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Arseus to buy Brazilian Pharma Nostra for EUR 51m.

(SeeNews) - Jul 11, 2011 - Belgian health products wholesaler Arseus (EBR:RCUS) announced today an agreement in principle to buy Pharma Nostra, a Brazilian raw materials supplier for pharmaceutical compounding, for some EUR 51 million (USD 72.3m).

Arseus will pay about 60% of the takeover sum upon closing, consisting of EUR 28 million in cash and EUR 4 million in own shares. The remaining EUR 19 million will be paid over a period of three to five years.

Pharma Nostra generated last year a revenue of about EUR 45 million.

Following the acquisition, Arseus expects that the group's revenues will increase this year by between 14% and 18% in annual terms, up from the previously projected range of 8% to 12%. The organic revenue growth is estimated at 3-6% in 2011.

(EUR 1.0 = USD 1.418)
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Publication:ADP News Belgium
Date:Jul 11, 2011
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