Search Share Prices
Dechra buys 2 Netherlands pharma firms for 340m
Veterinary pharma company Dechra said it was buying Netherlands-based AST Farma and Le Vet for 340m.
Dechra said it would pay 75% in cash and the rest in new shares, which would be subject to a two year lock-in.
Dechra also said it would place 5,121,952 new ordinary shares at a price of 2050p each through an accelerated bookbuild.
AST Farma focuses on generic and generic plus products, while Le Vet largely works on European markets. The two companies hold about 90 product registrations Dechra said.
Chief executive Ian Page said the deal was "a rare opportunity to strengthen our EU segment in all the major European countries in which we operate".
"AST Farma and Le Vet have been a primary target for a number of years so we are delighted to have reached this agreement," he said.