MILAN (MF-DJ)–Fidim, the holding company of the Rovati family, has reached a agreement with the Swedish Meda AB for the sale of 100% of the Rottapharm group for a total valuation of 2.275 billion euro. All R&D activities dedicated to the high-tech drug segment headed by Rottapharm Biotech, the group's historic research core, remain excluded from the agreement. Meda AB is one of the world's leading operators in the pharmaceutical industry, active both in the development of prescription drugs and OTC and Consumer Healthcare products, and is listed on the Stockholm Stock Exchange with a capitalization of 32.4 billion Sek (3.5 billion euros). The terms of the operation, whose closing is expected in the fourth quarter of 2014, provide for a valuation of 2 billion and 275 million euros against a 2013 turnover of 536 million and a 2013 adjusted EBITDA of 149 million. The price includes a cash component of 1 billion and 643 million (to which a further 275 million will be added which will be paid in January 2017), and a share component, through a capital increase reserved for Fidim, equal to 357 million. Upon completion of the transaction, Fidim will hold a stake of 9% in the capital of Meda AB, becoming its second shareholder. Rothschild is advisor to Meda AB in the operation.
com/fus marco.fusi@mfdowjones.it MF-DJ NEWS 3108:23 Jul 2014
NB: CEO of Meda SA is Jörg-Thomas Dierks
