Brief: Valeant agrees to sell Obagi Medical Products business

China Regenerative Medicine International

17/07/2017 12:00

July 17 (Reuters) - Valeant  VRX.TO : 
    * Valeant agrees to sell Obagi Medical Products business 
    * Valeant - deal for $190 million in cash 
    * Says Valeant will use proceeds from sale to permanently 
repay term loan debt under its senior secured credit facility 
    * Valeant - estimates that 2017 revenue and adjusted ebitda 
(non-gaap) for Obagi business would have been approximately $85 
million and $30 million respectively 
    * Valeant - certain affiliates of co agreed to sell Obagi 
medical products business to Haitong International Zhonghua 
Finance Acquisition Fund I, L.p. 
 
Source text for Eikon:  ID:nCNW7YQYKa  
Further company coverage:  VRX.TO  
 
 ((bangalore.newsroom@thomsonreuters.com;))