Expedeon AG: Expedeon AG signs EUR 120 million deal with Abcam for the sale of its immunology and proteomics business
Expedeon AG / Key word(s): Disposal
Ad hoc release according to article 17 MAR
Expedeon AG signs EUR 120 million deal with Abcam for the sale of its immunology and proteomics business
Heidelberg, Germany and Cambridge, UK, 11 November 2019 - Expedeon AG (Frankfurt: EXNN; ISIN: DE000A2YN801; Prime Standard) announces the signing of an agreement with Abcam plc (London Stock Exchange: ABC; ISIN: GB00B6774699; AIM MTF), Cambridge, UK, to sell its proteomics and immunology business activities for a cash payment of EUR 120 million. This purchase price is equivalent to twice Expedeon's current market capitalization or more than 9-times 2018 annual group revenue. The agreement is subject to shareholder approval at an extraordinary meeting of Expedeon AG to be held in Heidelberg on December 19th, 2019.
The agreement covers the sale and transfer of all shares in Expedeon Holdings Limited (Cambridge, UK), organised in three divisions: the proteomics-focused Expedeon Ltd. and the two subdivisions within Expedeon's immunology portfolio, Innova Biosciences Ltd. (Cambridge, UK) and TGR BioSciences Pty Ltd. (Thebarton, Australia). Expedeon Inc (San Diego, USA) will be transferred from the Expedeon Holding Ltd. prior to the sale to become part of Expedeon AG (Heidelberg, Germany), the listed entity and parent company of Expedeon Holdings Ltd.. Expedeon Inc. will transfer the non-electrophoretic instrument assets to the purchaser. Following the transaction, Expedeon AG will change its corporate name and branding, which will be proposed to the extraordinary meeting.
Expedeon AG will retain approximately 38 % of its assets at the level of individual financial statements and 15 % at the level of consolidated financial statements. In the future, the Company will use parts of the proceeds of this transaction to apply its proven grow, buy and build strategy to its genomics business that it will continue to pursue through the remaining Spanish operation Expedeon Biotech S.L.U. (Madrid, Spain) and that is driven by its proprietary TruePrime(TM) technology. Future activities will include DNA manufacturing and establishing GMP certified facilities to supply DNA products for research, therapeutic and other uses requiring large amounts of high purity DNA, such the fast growing market of novel gene therapies.
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For further information, please contact:
MC Services AG (Investor Relations and International Media Relations)
About Expedeon AG: www.investors.expedeon.com
### This publication is intended for information only and constitutes neither an offer to sell nor an invitation to buy securities. Some statements included in this press release, relating neither to proven financial results nor other historical data, should be viewed as forward-looking, i.e. not definite. Such statements are mainly predictions of future results, trends, plans or goals. These statements should not be considered to be total guarantees since given their very nature they are subject to known and unknown risks and imponderability and can be affected by other factors as a consequence of which the actual results, plans and goals of Expedeon AG may deviate greatly from the established conclusions or implied predictions contained in such statements. Expedeon does not undertake to publicly update or revise these statements in the light of new information or future results or for any other reason. ###
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11-Nov-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Waldhofer Str. 102|
|Phone:||+49 (0) 6221 3540 125|
|Fax:||+49 (0) 6221 3540 127|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||909115|
|End of Announcement||DGAP News Service|