BELGIUM - Waterland pays EUR 62.4m for 25.1% stake in Arseus

The transaction, carried out from the firm's fourth fund, saw Waterland purchase 7,500,000 (24.04%) shares from Omega Pharma and a further 330,000 (1.06%) shares from Couckinvest at a price of EUR 8 per share. The deal also includes an earn-out of up to EUR 2.75 per share payable upon Waterland's divestment.

Other shareholders include Counckinvest which retains a 11.31% stake, Fortis Investment Management with a 8.84% stake, Arseus NV with a 3.12%.

Ghent-based Arseus is a multinational group of companies that supplies products, services and concepts to health care professionals and institutions in the Europe. It reported a EUR 335m turnover in 2008, and currently employs 1,600 people across 16 countries.

The investment will enable the company to pursue its development through a buy-and-build strategy.

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• Expansion
• Benelux