European and U.S. antitrust authorities clear acquisition of select Danaher Life Science businesses by Sartorius Stedim Biotech
Aubagne, March 20, 2020
On March 18 and March 19, 2020 respectively, the European Commission and the U.S. Federal Trade Commission cleared the proposed acquisition of select Danaher life science businesses by Sartorius, SSB’s major shareholder. Both approvals are an important milestone for the transaction originally announced in October 2019, the completion of which is still subject to clearance by the Chinese antitrust enforcement authority of Sartorius as the buyer of the assets. The transaction is now expected to close in the second quarter of 2020.
The businesses to be acquired are part of Danaher’s Life Sciences platform and also include various bioprocessing technologies that are a complementary fit to the portfolio of businesses of SSB. Pursuant to conditions set by the antitrust authorities, the portfolio of businesses to be acquired was expanded to include certain businesses associated with single-use tangential flow filtration systems (including flow kits) and stainless steel hollow fiber tangential flow filtration systems. The total purchase price is approximately 825 million U.S. dollars in cash of which about a third will be allocated to the businesses purchased by Sartorius Stedim Biotech. In 2019, sales of the businesses to be acquired by SSB were close to 100 million U.S. dollars.
This press release contains forward-looking statements about the future development of the Sartorius Stedim Biotech Group. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Sartorius Stedim Biotech assumes no liability for updating such statements in light of new information or future events.
This is a translation of the original French-language press release. Sartorius Stedim Biotech shall not assume any liability for the correctness of this translation. The original French press release is the legally binding version.
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