Shares in German pharmaceutical and laboratory gear provider Sartorius AG and its France-listed subsidiary Sartorius Stedim Biotech SA
DIM,
fell in opening commerce on Friday after the corporate introduced its acquisition of Polyplus for about 2.4 billion euros ($2.62 billion).
Sartorius
SRT,
mentioned it might obtain a bridge mortgage facility from J.P. Morgan for a transitional interval to finance the transaction, and that it might refinance the mortgage with long-term financing devices which could additionally embody an fairness element.
At 0745 GMT, Sartorius shares traded down 5.6% at EUR386.40. Sartorius Stedim traded down 6.8% at EUR287.90
Polyplus produces key parts within the manufacturing of viral vectors utilized in cell and gene therapies and different superior medicinal therapeutic merchandise, in accordance with Sartorius. It is predicted to generate gross sales income within the higher double-digit million euro vary, and a really substantial Ebitda margin in 2023, the corporate mentioned.
Write to Cecilia Butini at cecilia.butini@wsj.com
Source web site: www.marketwatch.com
