Eurofins subsidiary acquires close to 9% stake in Cerep S.A. and files a public tender offer for the remaining share capital
Eurofins Scientific (EUFI.PA) and Mr. Thierry Jean, CEO and Founder of Cerep, one of the leading provider of in vitro pharmacology and ADME Toxicity Testing, HAVE AGREED on the acquisition by a subsidiary Eurofins, at the price of EUR 2 per share, of a block of 1,069,732 shares belonging to Mr. Jean, representing 8:48% of the capital of Cerep.
Given Cerep's current ownership structure, the stake to be acquired by Eurofins Indirectly Represents the Largest share holding in the Company. Further More, with the board of directors of Cerep's approval, the acquiring Eurofins subsidiary has filed today with the Autorité des Marchés Financiers (AMF) a tender offer for the remaining capital of Cerep.
Pending a conformity decision from the AMF, the tender offer, Which is silent under the AMF's review, aims to buy the shares of existing Cerep Shareholders at the Proposed Purchase Price of EUR 2 per share, in line with the price paid for Mr. Thierry Jean's stake.
The tender offer price implies at equity valuation of EUR 25.2m, representing a premium of 80.7% to the 1-month average price and 79.9% Compared to the 12-month average as of 19 December 2012 Design.
Banque Palatine has been selected as the Presenting Bank for the tender offer. Further technical details of the Transaction, Including the offer schedule, be provided via a press release will become available as They.
This transaction would reinforce the presence of Eurofins in the discovery pharmacology Market Following its acquisition of Pan Labs in the US in September 2012. If the tie-up were to be confirmed, Mr. Thierry Jean, Cerep CEO, would Further develop the business in close partnership with Eurofins.
For more information, please visit www.eurofins.com or contact:
Eurofins Investor Relations Phone: +32 2 766 1620 E-mail: ir@eurofins.com |
Notes for the editor:
Eurofins - a global leader in bio-analysis
Eurofins Scientific is the world leader in food and pharmaceutical products testing. It is also number one in the world in the field of environmental laboratory services and one of the global market leaders in agroscience, genomics and central laboratory services.
With over 12,500 staff in more than 170 laboratories across 33 countries, Eurofins offers a portfolio of over 100,000 reliable analytical methods for evaluating the safety, identity, composition, authenticity, origin and purity of biological substances and products. The Group provides its customers with high-quality services, accurate results in time and expert advice by its highly qualified staff.
Eurofins is committed to pursuing its dynamic growth strategy by expanding both its technology portfolio and its geographic reach. Through R&D and acquisitions, the Group draws on the latest developments in the field of biotechnology and analytical chemistry to offer its clients unique analytical solutions and the most comprehensive range of testing methods.
As one of the most innovative and quality oriented international players in its industry, Eurofins is ideally positioned to support its clients' increasingly stringent quality and safety standards and the expanding demands of regulatory authorities around the world.
The shares of Eurofins Scientific are listed on the NYSE Euronext Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg ERF FP).
Important disclaimer:
This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgement of Eurofins Scientific’s management as of the date of this release. These forward-looking statements are not guarantees for future performance, and the forward-looking events discussed in this release may not occur. Eurofins Scientific disclaims any intent or obligation to update any of these forward-looking statements and estimates. All statements and estimates are made based on the data available to the Company as of the date of publication, but no guarantee can be made as to their validity.