Tender Offer (6897V)
January 17 2012 - 5:39AM
UK Regulatory
TIDMHIK
RNS Number : 6897V
Hikma Pharmaceuticals Plc
17 January 2012
PRESS RELEASE
Hikma completes mandatory tender offer, raising its stake in
Promopharm to 94.1%
London, 17 January 2012 - Hikma Pharmaceuticals PLC (LSE: HIK)
(NASDAQ Dubai: HIK) ("Hikma"), the fast growing multinational
pharmaceutical group, today announces that it has increased its
stake in Societe de Promotion Pharmaceutique du Maghreb S.A.
(Casablanca: PRO) ("Promopharm") from 63.9% to 94.1%. Hikma
acquired the additional 302,196 shares (representing 30.2% of
Promopharm) for an aggregate consideration of $41.6 million (MAD
349.0 million). These shares were purchased in the open market and
through a mandatory tender offer, which closed on 6 January
2012.
The remaining 5.9% of Promopharm's issued share capital has been
retained by existing shareholders and Promopharm will remain listed
on the Casablanca Stock Exchange.
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Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, Investor Relations Director +44 (0)20 7399
2760/07776 477 050
FTI Consulting +44 (0)20 7831 3113
Ben Atwell /Julia Phillips/Jonathan Birt/Matthew Cole
Acquisition of Promopharm
On 3 October 2011, Hikma announced that it had acquired 63.9% of
Promopharm from a consortium of shareholders comprising existing
management, institutions and related parties for an aggregate
consideration of $111.2 million (MAD 912.8 million).
About Hikma
Hikma Pharmaceuticals PLC is a fast growing multinational
pharmaceutical group focused on developing, manufacturing and
marketing a broad range of both branded and non-branded generic and
in-licensed products. Hikma's operations are conducted through
three businesses: "Branded", "Injectables" and "Generics" based
principally in the Middle East and North Africa ("MENA") region,
where it is a market leader, the United States and Europe. In 2010,
Hikma achieved revenues of $731 million and profit attributable to
shareholders of $99 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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