Brief: Phibro Animal Health Says Zoetis To Sell Medicated Feed Additive Portfolio To Co

Phibro Animal Health

28/04/2024 23:36

April 28 (Reuters) - Phibro Animal Health Corp  PAHC.O :
    * ZOETIS TO SELL MEDICATED FEED ADDITIVE PORTFOLIO TO PHIBRO
ANIMAL HEALTH
    * DEFINITIVE AGREEMENT FOR $350 MILLION
    * MORE THAN 300 ZOETIS COLLEAGUES SUPPORTING MANUFACTURING,
DISTRIBUTION, COMMERCIAL ACTIVITIES TO TRANSITION TO PAHC
    * ALSO INCLUDED IN AGREEMENT ARE SIX MANUFACTURING SITES,
FOUR IN
U.S., ONE IN ITALY AND ONE IN CHINA
    * WILL ACQUIRE ZOETIS' MFA PRODUCT PORTFOLIO, CERTAIN WATER
SOLUBLE PRODUCTS AND RELATED ASSETS
    * PORTFOLIO IS EXPECTED TO BOOST CO'S PROFITABILITY AND
EBITDA
MARGIN AND BE ACCRETIVE TO ITS ADJUSTED EARNINGS PER SHARE
    * ACQUISITION EXPECTED TO BE FUNDED WITH DEBT, AND CO
RECEIVED
FINANCING COMMITMENTS FROM NUMBER OF KEY RELATIONSHIP BANKS.

Source text for Eikon:  ID:nBw7gwxdca 
Further company coverage:  PAHC.O 

 ((Reuters.Briefs@thomsonreuters.com;))