Regulated information
Waregem (Belgium)/Rotterdam (Netherlands)[1], 2 October 2015
Fagron N.V. announces today that it has been approached by parties that have indicated an interest in a possible acquisition of all outstanding shares in Fagron. Following these approaches, Fagron is engaged in preliminary discussions.
Consistent with its fiduciary duties, the Board of Directors of Fagron will be carefully evaluating these expressions of interest taking into full consideration the interests of all its shareholders and other relevant stakeholders. Fagron has engaged J.P. Morgan as exclusive financial advisor in view of evaluating the expressions of interest. There is no certainty that these discussions will lead to a public offer being made for the shares in Fagron.
Fagron also announces an update on its outlook for 2015 reflecting further negative developments from the changing reimbursement of non-sterile compounding in the United States and the weakening of the Brazilian Real. Fagron expects to realize turnover of between € 470 and € 480 million[2], with a REBITDA[3] of between € 105 and € 115 million[4]. More details will be provided in Fagron’s trading update on the third quarter of 2015 which will be published at 7:00CET on the 9th of October.
Further announcements will be made if and when circumstances so require.
In the event of any discrepancy between the English translation and the original Dutch version of this press release, the latter shall prevail.
Fagron profile
Fagron is a scientific pharmaceutical R&D company that is focused on optimizing and innovating customized pharmaceutical care. Fagron provides Fagron Specialty Pharma Services, Fagron Trademarks and Fagron Essentials to pharmacies, clinics and hospitals in 32 countries worldwide.
The Belgian company Fagron NV is located in Waregem and is listed on Euronext Brussels and Euronext Amsterdam. The operational activities of Fagron are driven by the Dutch company Fagron BV. The head office of Fagron BV is located in Rotterdam.
Important information about forward-looking statements
Certain statements in this press release may be considered “forward-looking”. Such forward-looking statements are based on current expectations, and, accordingly, entail and are influenced by various risks and uncertainties. The Company therefore cannot provide any assurance that such forward-looking statements will materialize and does not assume an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of Fagron in any jurisdiction.
[1] This press release was sent out by Fagron NV and Fagron BV.
[2] Based on constant exchange rates (EUR/USD 1.114 and EUR/BRL 3.524).
[3] EBITDA before non-recurrent result.
[4] Based on constant exchange rates (EUR/USD 1.114 and EUR/BRL 3.524).
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