Celesio Fast-Tracks $344M Brazilian Pharmaceutical Buy

Law360, New York (April 26, 2012, 3:31 PM EDT) -- Drug distributor Celesio AG is using a stock option earlier than expected to completely take over Brazilian pharmaceutical wholesaler Panpharma Participacoes SA in a 650 million Brazilian reals ($344 million) deal that will make it the country's industry leader, Celesio announced Thursday.

Scooping up the remaining 49.9 percent stake that it doesn’t already own in the Brazilian company, Celesio is fast-tracking a plan that had it waiting to take up the shares until 2015. Citing promising growth prospects in the Brazilian company and a desire to...
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