Invalda AB and other Sanitas AB shareholders, all together controlling 87,2% shares, on 19 August 2011, have finished the sale this shareholding in AB Sanitas to Valeant Pharmaceuticals International, Inc.
According to the agreement signed on 23 May 2011, Invalda AB has sold 26.5% shareholdings in AB Sanitas, in exchange of 83 mln. EUR (286.7 mln. LTL) or 10.06 EUR (34.7 LTL) for one share.
Taking into account share price adjustment mechanism set out in the agreement signed on 24 October, 2008, (regarding sale of 20.3 % of the share capital of Sanitas AB) total proceedings of Invalda from Sanitas shares will amount to 91.4 mln. EUR (315.7 mln. LTL) (based on the EUR/USD exchange rate 1.43). This amount may change depending on USD dollar rate.
The preliminary net gain in the standalone financial statements of AB Invalda is approximately 59.7 mln. EUR (206.1 mln. LTL) and consolidated financial statements – 54.9 mln. EUR (189,5 mln. LTL).
Invalda AB with use proceeds from the transaction to cover practically all financial obligations to banks and group companies, allocating for this 106.6 mln. LTL (30.87 mln. EUR). The company is also actively looking for new investment projects.
A person authorised to provide additional information:
Darius Sulnis, president, phone number: +370 (5) 2734876