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Savient Pharmaceuticals, Inc. (BTGC) Provides Update On Its Process For The Potential Divestiture Of Its Israeli Operations And Subsidiary
10/19/2005 5:11:33 PM
Savient Pharmaceuticals, Inc. (NASDAQ:SVNT) today announced that its management, together with its advisors, UBS Investment Bank, is proceeding with the process for exploring a potential divestiture of its Israeli business operations including its subsidiary, Bio-Technology General (Israel) Ltd. Early in the fourth quarter of 2004, a confidential information memorandum is expected to be made available to prospective acquirers. If a satisfactory offer is received and approved by the Company's board of directors, management expects that, subject to the receipt of required regulatory approvals, the transaction could complete in the first half of 2005.
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