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2013-04-08 09:50:00 CEST 2013-04-08 09:50:41 CEST REGULATED INFORMATION Oriola-KD Oyj - Tender offerCorrection - Oriola-KD to acquire MedstopOriola-KD Corporation Stock Exchange Release 8 April 2013 at 10.50 a.m. Oriola-KD amends the details of the acquisition section in the stock exchange release published today at 8.30 a.m. Oriola-KD Holding Sverige AB, an Oriola-KD company, has signed an agreement to acquire Sweden's fifth largest pharmacy chain Medstop Group Holding AB ("Medstop") from Segulah Management IV Limited. The total value of the acquisition is estimated to be SEK 1460 (EUR 176) million, comprising of three separate items: a SEK 680 (EUR 82) million cash payment, net debt of the acquired company, and a conditional earn-out payment payable on the basis of the consolidated 2015 EBITDA of Oriola-KD's combined Swedish Retail business. Oriola-KD will finance the acquisition in full with a bank loan. The transaction is expected to be completed in the second quarter of 2013 subject to the Swedish Competition Authority (Konkurrensverket) and Medical Products Agency (Läkemedelsverket) approvals. Details of the acquisition The Medstop pharmacy chain has a total of 65 pharmacies located in shopping centres and city centre locations in the Stockholm, Gothenburg and Malmö areas. In 2012, the net sales of Medstop were EUR 273 (299) million and EBITDA of the chain was EUR 11.6 (11.5) million, excluding non-recurring items, corresponding to about 4.2 (3.8) per cent of net sales. The net debt of the pharmacy chain at year end 2012 was EUR 75 (80) million and total assets at the end of 2012 were EUR 215 (223) million. Medstop's market share of the Swedish pharmacy market wasapproximately 7.5 per cent at the end of 2012. The pharmacy chain employed 578 people at the end of 2012. The acquisition supports Oriola-KD's strategic growth in the Swedish market"The acquisition is an important part of Oriola-KD's strategy to take an active role in the transformation of the Swedish pharmacy market and it supports the company's goal to become one of the main operators in Swedish pharmaceutical retail and wholesale market." Eero Hautaniemi, President and CEO, Oriola-KD Corporation. Following the acquisition, Oriola-KD will have some 290 pharmacies in Sweden and its market share in the Swedish retail trade will increase from the current 14 per cent to approximately 21 per cent. The acquisition is expected to create synergies in purchasing, warehousing and pharmacy distribution. Invitation to a conference call Oriola-KD Corporation will organise a conference call on the acquisition of the pharmacy chain starting at 11.00 a.m. on 8 April 2013. The conference call number is +44 203 481 0954 and the confirmation number is: 8910 379#. The conference will be held in English. Oriola-KD Corporation Eero Hautaniemi President and CEO Tuomas Itkonen CFO Further information: Eero Hautaniemi President and CEO Tel. +358 (0)10 429 2109 e-mail: eero.hautaniemi@oriola-kd.com Tuomas Itkonen CFO Tel. +358 (0)46 876 5207 e-mail: tuomas.itkonen@oriola-kd.com Joni Ihantola VP Treasury and IR Tel. +358 (0)10 429 4386 e-mail: joni.ihantola@oriola-kd.com Distribution: NASDAQ OMX Helsinki Ltd. Key media Released by: Oriola-KD Corporation Corporate Communications Orionintie 5 FI-02200 Espoo www.oriola-kd.com [HUG#1691015] |
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