Kaneka Europe Holding Company N.V. completed the acquisition of 18.21% stake in AB-Biotics, S.A.
November 06, 2019
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Kaneka Europe Holding Company N.V. made an offer to acquire remaining 33.67% stake in AB-Biotics, S.A. (BME:ABB) for €21.2 million on September 3, 2019. Under the terms of the offer, Kaneka will pay €5 per share. The offeror holds a strong financial position and will meet the payment of the offer price with funds obtained from external financing. The deal is subject to AB-Biotics, S.A. shareholder approval. On October 4, 2019, deal is approved by shareholders of AB-Biotics, S.A. The period for the acceptance of the Offer will start from October 7, 2019 and will expire on November 7, 2019. EBN Banco de Negocios, S.A. acted as financial advisor for Kaneka Europe Holding Company N.V. Ernst & Young Servicios Corporativos, S.L provided fairness opinion for Board of Directors of AB-Biotics, S.A.
Kaneka Europe Holding Company N.V. completed the acquisition of 18.21% stake in AB-Biotics, S.A. (BME:ABB) on November 7, 2019. The settlement date for the transaction is scheduled for November 18, 2019.
AB-Biotics SA, also known as AB Biotics, is a Spain-based company engaged in the biotechnology industry business sector. It is dedicated to the research and development (R&D) of functional ingredients, drugs and tools for genetic analysis, as well as the nutraceutical and pharmaceutical industries. The Companyâs pipeline includes a range of supplements designed to improve health, from products that can lower the risk of cardiovascular disease to those that can help in the management of diabetes. It covers the development spectrum from marketed product, to proof-of-concept, and includes products that have been licensed to global food and pharmaceutical companies. The Company also provides outsourced R&D solutions to pharmaceutical companies, as well as functional food industry related companies. The Company offers different products, such as AB-Life, LipiGO, AB-Dentalac and AB-Colic, among others.