Brief: Probi to buy Nutraceutix and expand into North American market

Probi AB

06/06/2016 20:00

June 7 (Reuters) - Probi AB  PROB.ST : 
    * Probi to acquire Nutraceutix, expanding its North American presence and capabilities 
    * Announces rights issue of about 600 million Swedish crowns ($74 million) 
    * To acquire Nutraceutix for a preliminary cash purchase price of $105 million (873 million 
Swedish crowns) on a cash and debt free basis 
    * Will increase its market share in North America more than three-fold 
    * Cash purchase price will be financed through available cash reserves, a credit facility of 
about $35 million and a bridge facility of about $63 million 
    * Handelsbanken has committed to provide the credit facility and the bridge facility 
    * Bridge facility will be repaid by proceeds from the rights issue of about 600 million 
crowns 
 
     
  
     
 Source text for Eikon:  urn:newsml:reuters.com:*:nWkrff4388 
     
 Further company coverage:  PROB.ST   
    
 
 
 
($1 = 8.1224 Swedish crowns) 
 
 (Gdynia Newsroom) 
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