Investor AB, Morgan Stanley to buy Moelnlycke Health Care for EV of 2.85 bln eur |
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Published
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Fri, 26 Jan 2007 09:12
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STOCKHOLM (AFX) - Investor AB said it and Morgan Stanley Principal Investments (MSPI) have signed an agreement to acquire Moelnlycke Health Care Group AB from Apax Partners for an enterprise value (EV) of 2.85 bln eur.Investor said the majority of the acquisition will be financed by external debt and will be made through a bid vehicle equally controlled by Investor and MSPI, with Moelnlycke's management as minority shareholders.Investor's share of the equity capital and shareholder loans will amount to 620 mln eur, corresponding to about 65 pct of the aggregated equity and shareholder loans invested by Investor and Morgan Stanley.Investor said it will include Moelnlycke in its Operating Investments business area and it will be accounted for as an associated company according to the equity method.Moelnlycke is headquartered in Gothenburg and manufactures and sells single-use wound care and surgical products primarily for the professional healthcare sector. In 2006, Moelnlycke had sales of around 760 mln eur and EBITDA of about 230 mln eur.TF.TFN-EuropeStockholm@thomson.comhc/jsaCOPYRIGHTCopyright 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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