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Virbac : Aquaculture: Virbac postpones its option to buy Centrovet for three years | ||
By: Nasdaq / GlobeNewswire - 22 Nov 2017 | Back to overview list |
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Aquaculture: Virbac postpones its option to buy Centrovet for three years Carros, France - November 22, 2017 By mutual agreement, Virbac and the other shareholders of Centrovet have decided to postpone the option to buy the Chilean aquaculture specialist for three years, under the same pricing conditions. Virbac, which has held a 51% stake in Centrovet-the leading animal health and aquaculture company in Chile-since November 2012, announced on November 22 that it was deferring its option to acquire the remaining shares (49%) at equivalent financial terms. Exercising its option to purchase the minority shares in late 2017 would have added to Virbac's debt burden at a time when the company is seeking to deleverage.
The three-year postponement will limit the impact on its debt while confirming:
A PHARMACEUTICAL COMPANY THAT HAS ALWAYS BEEN DEDICATED TO ANIMAL HEALTH
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Virbac via GlobeNewswire
HUG#2151414
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Copyright 2017 Nasdaq / GlobeNewswire | Back to overview list |