Tender Offer

RNS Number : 6897V

Hikma Pharmaceuticals Plc

17 January 2012

 



PRESS RELEASE                                                                     

Hikma completes mandatory tender offer, raising its stake in Promopharm to 94.1%

London, 17 January 2012 - Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) ("Hikma"), the fast growing multinational pharmaceutical group, today announces that it has increased its stake in Société de Promotion Pharmaceutique du Maghreb S.A. (Casablanca: PRO) ("Promopharm") from 63.9% to 94.1%.  Hikma acquired the additional 302,196 shares (representing 30.2% of Promopharm) for an aggregate consideration of $41.6 million (MAD 349.0 million).  These shares were purchased in the open market and through a mandatory tender offer, which closed on 6 January 2012. 

The remaining 5.9% of Promopharm's issued share capital has been retained by existing shareholders and Promopharm will remain listed on the Casablanca Stock Exchange. 

-----  ENDS -----

Enquiries

Hikma Pharmaceuticals PLC

Susan Ringdal, Investor Relations Director                          [phone]/07776 477 050

FTI Consulting                                                                                   [phone]

Ben Atwell /Julia Phillips/Jonathan Birt/Matthew Cole

Acquisition of Promopharm

On 3 October 2011, Hikma announced that it had acquired 63.9% of Promopharm from a consortium of shareholders comprising existing management, institutions and related parties for an aggregate consideration of $111.2 million (MAD 912.8 million).

About Hikma

Hikma Pharmaceuticals PLC is a fast growing multinational pharmaceutical group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in-licensed products.  Hikma's operations are conducted through three businesses: "Branded", "Injectables" and "Generics" based principally in the Middle East and North Africa ("MENA") region, where it is a market leader, the United States and Europe.  In 2010, Hikma achieved revenues of $731 million and profit attributable to shareholders of $99 million. 

 

END

 

 

TENBKODNKBKDFDD