Brief: Magle Group Enters Into Merger Agreement To Buy Pk Biotech, Pk Chemicals

Magle Chemoswed Holding AB

28/06/2024 08:14

June 28 (Reuters) - Magle Chemoswed Holding AB
 MAGLE.ST :
    * ENTERS INTO MERGER AGREEMENT REGARDING THE ACQUISITION OF
PK
BIOTECH APS AND PK CHEMICALS A/S
    * PURCHASE PRICE FOR ALL SHARES IN PK BIOTECH WILL BE PAID
IN FORM
OF A SELLER PROMISSORY NOTE OF APPROXIMATELY SEK 240 MILLION
    * SELLER PROMISSORY NOTE WILL BE OFFSET AGAINST 7,200,000
NEWLY
ISSUED SHARES IN MAGLE GROUP
    * MERGER IS EXPECTED TO CREATE VALUE FOR SHAREHOLDERS OF NEW
MAGLE
GROUP THROUGH SYNERGIES
    * SYNERGIES SUCH AS NCREASED PRODUCTION CAPACITY, ENHANCED
CDMO
CAPABILITIES AND BROADENED SERVICE OFFERING
    * IN TOTAL, VALUE OF SYNERGIES FROM SUCH COST SAVINGS ARE
ESTIMATED TO AMOUNT TO BETWEEN SEK 7 MILLION AND 11 MILLION
ANNUALLY
    * SYNERGIES ARE EXPECTED TO BE UNLOCKED WITHIN 12 TO 24
MONTHS
    * ACQUISITION IS EXPECTED TO BE COMPLETED IN JULY 2024

Source text for Eikon:  ID:nMFN7PnX1P 
Further company coverage:  MAGLE.ST 

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