Ares Life Sciences to take Stallergenes private

The transaction price was set at €59 per share, both for the acquisition of Wendel's stake and for the offer on the remaining shares. Ares Life Sciences was attracted by Stallergenes' track record and its plans to penetrate new markets, as well as launch a new generation of products.

Wendel originally invested in the company in 1993. The investor's strategy was to facilitate the development of Stallergenes' product portfolio and the constitution of a solid R&D pipeline, while building a presence in more than 50 countries. During this period, Stallergenes' turnover has grown from €20m in 1993 to €193m in 2009.

Wendel's proceeds from the sale would amount to €358.8m, equating to a 35x return multiple on its original investment.

Founded in 1962, Stallergenes is a biopharmaceutical laboratory specialising in treatments by immunotherapy for the prevention and treatment of allergy-related respiratory conditions, such as rhino conjunctivitis, rhinitis and allergic asthma. Based in Antony, the group generated a €193m turnover in 2009 and employs around 850 people.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

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