Abcam plc (AIM:ABC) agreed to acquire TGR Biosciences Pty Ltd, Innova Biosciences Ltd. and Expedeon Ltd. from Expedeon AG (XTRA:EXNN) for €120 million on November 11, 2019. The acquisition is on a debt free, cash free basis. The transaction will be funded from a drawdown of the Group's Revolving Credit Facility and existing cash resources. The transaction is subject to shareholder approval of Expedeon AG. The acquisition is expected to close in early 2020. The transaction is expected to be neutral to Abcam's adjusted earnings in the current financial year and accretive from the first full year of ownership. Expedeon AG will use parts of the proceeds of this transaction to apply its proven grow, buy and build strategy its genomics business that it will continue to pursue through the remaining Spanish operation Expedeon Biotech S.L.U. (Madrid, Spain) and that is driven by its proprietary TruePrime™ technology. Ondra LLP acted as financial advisor to the Board of Directors of Abcam. J.P. Morgan Cazenove Limited acted as financial advisor to Abcam plc. Thorsten Kuthe, Stefan Westerheide, Patrick Müller and Marc Scheunemann of Heuking Kühn Lüer Wojtek acted as legal advisors to Expedeon AG.

Abcam plc (AIM:ABC) completed the acquisition of TGR Biosciences Pty Ltd, Innova Biosciences Ltd. and Expedeon Ltd. from Expedeon AG (XTRA:EXNN) on January 1, 2020. As of December 19, 2019, Expedeon's shareholders approved the sale to Abcam.