HAMBURG (dpa-AFX) - Evotec AG (EVTCY.PK, EVOTF.PK) said that it agreed to buy all operational business of Aptuit Holdings LLC for $300 million or about 256 million euros to combine the businesses and expand Evotec's role as leading player in integrated outsourced drug discovery and development solutions.
Aptuit is a pharmaceutical services company that offers integrated early discovery to mid-phase drug development services in the biotech and pharmaceutical industry. The Company has approx. 750 employees and three main operating sites in Europe (Verona, Oxford and Basel). The acquisition is expected to close in third-quarter 2017.
Evotec noted that it will pay a total consideration of $300 million in cash for the acquisition of 100% of the issued and outstanding equity interests of Aptuit Global LLC, Aptuit (Potters Bar) Limited and Aptuit (Switzerland) AG and the funding of all (albeit limited)existing company debt. The acquisition is financed through a mix of existing cash reserves and an additional new EUR 140 m senior debt facility.
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