Pharmalys Invest Holding completed the acquisition of 51% stake in Pharmalys Laboratories SA, Pharmalys Africa Sarl and Pharmalys Tunisia SA from HOCHDORF Holding AG.

Pharmalys Invest Holding signed an agreement to acquire 51% stake in Pharmalys Laboratories SA, Pharmalys Africa Sarl and Pharmalys Tunisia SA from HOCHDORF Holding AG (SWX:HOCN) for approximately CHF 100 million on December 6, 2019. Under the terms, Pharmalys Invest will pay consideration in several installments until September 2020. The closing is expected within the next few days. Ralph Malacrida and Lukas Roesler of Bär & Karrer Ltd. acted as legal advisors to Pharmalys Invest Holding AG. Pharmalys Invest Holding completed the acquisition of 51% stake in Pharmalys Laboratories SA, Pharmalys Africa Sarl and Pharmalys Tunisia SA from HOCHDORF Holding AG (SWX:HOCN) on December 6, 2019. As reported on October 1, 2020, Hochdorf has extended the deadline for part of the remaining balance from the Pharmalys sale to September 30, 2021. The amount still outstanding of around CHF 34 million is secured with additional collateral from the buyer and earns interest. In addition, additional volumes were agreed for 2021. As of October 1, 2020, Hochdorf has granted additional payment terms to Pharmalys Invest Holding. The balance of CHF 44 million, a first payment of CHF 10 million has already been made on the date of the signing of the new agreement between the parties and the remaining CHF 34 million will be paid by September 30, 2021.