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Balda (BAF)

Proposed sale of all operating businesses

Flash note | Pharmaceutical & healthcare | 25/09/2015

Balda has announced the proposed sale of its entire operating business for a net purchase price of €62.9m to Munich-based private equity company Paragon. The deal would leave Balda with a shell containing c €130m in cash. The agreement is subject to an approval by 75% majority at the AGM on 19 November, which will also decide on special dividends of €0.90 per share (independent of the sale) and €1.10 per share (dependent on the sale). Our forecasts and valuation are suspended pending the transaction.

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