Avista and Nordic Capital make tender offer for Acino

The acquisition vehicle Pharma Strategy Partners, jointly owned by Nordic and Avista, intends to offer CHF 115.00 per share to Acino shareholders. This equates to a 33% premium on Acino's closing share price on 1 October 2013.

Avista and Nordic are aiming for a minimum acceptance rate of 66.67%.

Acino's entire board of directors has agreed to tender all shares, with the board resolving unanimously. The board consists of Luzi von Bidder (chairman), Andreas Rummelt (vice chairman), Anders Härfstrand, Hans Peter Hasler and Jürg Michel.

The private equity houses intend to delist Acino from the Swiss stock exchange following completion.

Avista's Håkan Björklund will join Acino's board as new chairman upon the successful completion of the transaction.

 

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• Topics
• DACH
• Healthcare
• Buyouts
• Switzerland
• Nordic Capital