Getinge AB (OM:GETI B) completed the acquisition of Applikon Biotechnology B.V. from Applikon Biotechnology Holding B.V.

Getinge AB (OM:GETI B) entered into an agreement to acquire Applikon Biotechnology B.V. from Applikon Biotechnology Holding B.V. for approximately SEK 1.5 billion on December 19, 2019. Under the terms of the transaction, Getinge will pay SEK 840 million in cash upon completion of the acquisition and a maximum earn out of approximately SEK 630 million can be paid out in 2021-2022 if agreed earnings performance is achieved in 2020-2021. The acquisition will be financed through debt financing from SEB. Applikon Biotechnology reported an annual net sales of approximately SEK 450 million. The transaction is subject to the employee consultation obligations under the Works Council Act (Wet op de ondernemingsraden) and the SER Merger Code (SER-besluit Fusiegedragsregels 2015) in the Netherlands having been completed and closing is conditional upon customary closing conditions. As of January 3, 2020, all conditions for the transaction and closing have now been fulfilled. The deal is expected to be completed in the first quarter of 2020. Getinge expects no material integration costs in 2020-2021 and the net debt to EBITDA ratio is expected to be impacted by 0.2x at the closing of the transaction. Deutsche Bank acted as financial advisor while NautaDutilh acted as legal advisor to Getinge in the transaction. Jefferies LLC acted as financial advisor to Applikon Biotechnology Holding B.V. KPMG International Cooperative acted as due diligence provider to Applikon Biotechnology B.V. Getinge AB (OM:GETI B) completed the acquisition of Applikon Biotechnology B.V. from Applikon Biotechnology Holding B.V. on January 3, 2020.