Alvogen Set To Gain Majority Of Lotus In $200M Asset Swap

Law360, New York (January 16, 2014, 6:55 PM EST) -- Multinational pharmaceuticals company Alvogen said Thursday that it and Taiwainese specialty pharmaceuticals maker Lotus Pharmaceutical Co. Ltd. have agreed to a pair of transactions through which Alvogen will swap $200 million worth of assets for a majority stake in Lotus.

According to a Thursday statement from Alvogen, the company agreed in December to pay $200 million to receive up to 151 million shares in Lotus, equivalent to a 67 percent stake in the company. Subsequently, Alvogen said that it has agreed to sell several of its...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.