UCB, Schwarz Pharma start talks on profit transfer agreement |
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Published
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Fri, 12 Jan 2007 08:19
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BRUSSELS (AFX) - Belgian pharmaceuticals group UCB SA said it and German peer Schwarz Pharma AG are starting talks on a domination and profit transfer agreement as required under German law.The agreement will enable the companies to operate as one fully integrated entity following UCB's takeover bid for Schwarz Pharma.Under the agreement, outside shareholders of Schwarz Pharma will be entitled to either remain as shareholder and receive a annual guaranteed dividend or sell their shares to UCB.Details have yet to be determined and agreed upon.The requires the approval by a majority of 75 pct of Schwarz Pharma shareholders, who are due to meet in early May 2007.As a result of the takeover offer, UCB holds approximately 87.6 pct of the total outstanding share capital of the German company.victoria.main@afxnews.comvm/lamCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Schwarz Pharma and UCB to draw up profit transfer agreement 