Oriola-KD Corporation Stock Exchange Release 8 April 2013 at 10.50 a.m. Oriola-KD amends the details of the acquisition section in the stock exchange release published today at 8.30 a.m. Oriola-KD Holding Sverige AB, an Oriola-KD company, has signed an agreement to acquire Sweden`s fifth largest pharmacy chain Medstop Group Holding AB ("Medstop") from Segulah Management IV Limited. The total value of the acquisition is estimated to be SEK 1460 (EUR 176) million, comprising of three separate items: a SEK 680 (EUR 82) million cash payment, net debt of the acquired company, and a conditional earn-out payment payable on the basis of the consolidated 2015 EBITDA of Oriola-KD`s combined Swedish Retail business. Oriola-KD will finance the acquisition in full with a bank loan. The transaction is expected to be completed in the second quarter of 2013 subject to the Swedish Competition Authority (Konkurrensverket) and Medical Products Agency (Lkemedelsverket) approvals. Details of the acquisition The Medstop pharmacy chain has a total of 65 pharmacies located in shopping centres and city centre locations in the Stockholm, Gothenburg and Malm areas. In 2012, the net sales of Medstop were EUR 273 (299) million and EBITDA of the chain was EUR 11.6 (11.5) million, excluding … Continue reading
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