Subject to closing of the block acquisition of 85.6% equity shares, a mandatory simplified cash tender offer for all the remaining shares in the Target Entity or Amplitude Surgical SA, France, at the same purchase price of €6.25 per share of the latter.
If the conditions are met at the end of the tender offer, the company will proceed with a compulsory acquisition of the remaining shares — 14.4% shares for €43.2 million — from the minority shareholders and delist the target entity, it added.The equity shares of Amplitude Surgical are listed on Euronext Paris.
The total consideration for the entire 100% equity share capital would work out to €300 million.Zydus Life will acquire 85.6% of the equity shares of the target entity by acquiring 100% shares of the investment companies — Auroralux SAS, Ampliman 1 SAS and Ampliman 2 SAS — from PAI Partners and the management as well as by acquiring shares of the target entity held by two minority shareholders.
“The proposed acquisition shall act as a platform to execute our global MedTech strategy and a natural existence for Zydus having a proven track record in the sciences and wellness segment.
The block acquisition would be completed, and the mandatory simplified cash tender offer would be filed with Autorite des Marches Financiers (AMF) after the regulatory approvals are obtained, by the first half of the 2025 calendar year. The opening of the subsequent tender offer will then remain subject to AMF’s clearance decision, Zydus Life said.
Zydus Life shares were up 0.82% at ₹901 apiece at 2.40 pm on Tuesday, March 11. The stock has gained over 19% in the last six months.
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