Mayroy Sells 7% Stake In French Pharma Co. Ipsen

Law360, New York (March 20, 2014, 3:25 PM EDT) -- Ipsen SA said on Thursday that its largest shareholder, Mayroy SA, has sold about 7 percent of its stake in the Paris-based pharmaceutical company via private placement for around €173.8 million ($239.4 million), leaving Mayroy with a 57.6 percent stake in Ipsen's share capital.

According to a Thursday press release on the stake sale, Mayroy sold 5,88,290 shares at a price of $40.64 per share, which represents about a $3 discount from Ipsen's Wednesday closing price of roughly $44 per share. Ipsen said it will take...
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