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Oil and Gas

EQT makes buy-out offer for Karo Pharma

STOCKHOLM, Aug 16 (Reuters) - Sweden-based private equity fund EQT said on Tuesday it had made a cash offer for the remaining shares in Swedish biopharmaceuticals group Karo Pharma.

EQT currently owns 86% of Karo Pharma.

The total value of the offer is 2.23 billion Swedish crowns ($215.15 million), valuing Karo Pharma at 16.4 billion, EQT subsidiary Karo Intressenter said in a statement.

The news of the offer sent shares in Karo Pharma up 17%, corresponding to the bid level’s premium to the shares’ closing price on Monday.

$1 = 10.3649 Swedish crowns Reporting by Anna Ringstrom, editing by Stine Jacobsen

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