European and U.S. Antitrust Authorities Clear Acquisition of Select Danaher Life Science Businesses by Sartorius Stedim Biotech
AUBAGNE, France, March 20, 2020 /PRNewswire/ -- On March 18 and March 19, 2020 respectively, the European Commission and the U.S. Federal Trade Commission cleared the proposed acquisition of select Danaher life science businesses by Sartorius, SSB's major shareholder. Both approvals are an important milestone for the transaction originally announced in October 2019, the completion of which is still subject to clearance by the Chinese antitrust enforcement authority of Sartorius as the buyer of the assets. The transaction is now expected to close in the second quarter of 2020.
The businesses to be acquired are part of Danaher's Life Sciences platform and also include various bioprocessing technologies that are a complementary fit to the portfolio of businesses of SSB. Pursuant to conditions set by the antitrust authorities, the portfolio of businesses to be acquired was expanded to include certain businesses associated with single-use tangential flow filtration systems (including flow kits) and stainless steel hollow fiber tangential flow filtration systems. The total purchase price is approximately 825 million U.S. dollars in cash of which about a third will be allocated to the businesses purchased by Sartorius Stedim Biotech. In 2019, sales of the businesses to be acquired by SSB were close to 100 million U.S. dollars.
This press release contains forward-looking statements about the future development of the Sartorius Stedim Biotech Group. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Sartorius Stedim Biotech assumes no liability for updating such statements in light of new information or future events.
This is a translation of the original French-language press release. Sartorius Stedim Biotech shall not assume any liability for the correctness of this translation. The original French press release is the legally binding version.
A profile of Sartorius Stedim Biotech
Sartorius Stedim Biotech is a leading international partner of the biopharmaceutical industry. As a total solutions provider, the company helps its customers to manufacture biotech medications safely, rapidly and economically. Headquartered in Aubagne, France, Sartorius Stedim Biotech is quoted on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and an international network of sales companies, Sartorius Stedim Biotech has a global reach. The Group has been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies. In 2019, the company employed approx. 6,200 people, and earned sales revenue of 1,440.6 million euros.
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SOURCE Sartorius Stedim Biotech S.A
Company Codes: ISIN:FR0013154002, EuronextParis:DIM, Frankfurt:56S1, India:0RG8, OTC-PINK:SDMHF, OtherOTC:SDMHF, Stuttgart:56S1