eureKING to acquire SCTbio, plans Paris-listed biotech firm

Eureking SA

09/08/2023 07:25

Aug 9 (Reuters) - French special purpose acquisition
company (SPAC) eureKING  KINGSS.PA  on Wednesday said it would
acquire full ownership of SCTbio with a view to creating a new
biotech company and listing it in Paris.
    "eureKING will acquire, for cash, 67% of the share capital
(on a fully-diluted basis) of SCTbio and through the
contribution to eureKING by PPF Biotech B.V. of their remaining
33% shares," it said in a statement. 
    The proposed transaction would give SCTbio an enterprise
value of around 17.5 million euros, with the land acquired
valued at 2.025 million euros, the company said in a statement. 
    In a separate news release, PPF said "the transaction
partners will enter into a joint initiative to build a new
European contract development and manufacturing organisation
(CDMO) leader in biotechnology that will be listed on the
Euronext stock exchange in Paris".
    

    

 (Reporting by Olivier Sorgho; editing by Jason Neely)
 ((Olivier.Sorgho@thomsonreuters.com;))