January 29, 2018 / 12:16 PM / 8 months ago

Canadian cannabis producer Aphria to buy Nuuvera for $826 mln

Jan 29 (Reuters) - Canadian cannabis producer Aphria Inc said on Monday it would buy rival Nuuvera Inc for $826 million to expand into Europe, Africa and the Middle East.

Aphria said it will pay $8.50 per share to Nuuvera shareholders, representing a 21.4 percent premium to the stock’s Friday closing price.

It was not immediately clear if the deal value was in Canadian or U.S. dollars. (Reporting by Anirban Paul in Bengaluru; Editing by Saumyadeb Chakrabarty)

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