Incorporation into subsidiary: Sartorius share: Sartorius takes over purification specialist BIA | message
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The purification specialist BIA Separations is to be taken over for 360 million euros and incorporated into the subsidiary Sartorius Stedim Biotech, the MDAX-listed company announced on Friday evening in Göttingen.
240 million euros are to be paid in cash and 120 million euros in Sartorius Stedim shares. For comparison: Sartorius is currently valued at 25 billion euros after the recent surge in shares on the stock exchange and the subsidiary Sartorius Stedim Biotech, in which the Göttingen-based company holds 74 percent of the shares, at almost 28 billion euros.
“Both parties have also agreed three tranches of earnings-related earn-out payments over the next five calendar years,” it said. The transaction is subject to customary closing conditions and should be completed by the end of the year.
BIA Separations employs around 120 people at its headquarters in Ajdovscina, Slovenia, will have a turnover of around 25 million euros in 2020 and should achieve a strong double-digit increase in sales in the coming years. In addition, the acquisition should increase the Group’s margin.
BIA Separations, founded in 1998, is currently more than quadrupling its production capacity. Commissioning is scheduled for the beginning of 2021. “In addition, the company is significantly expanding its market-leading services in the field of process development,” announced Sartorius.
Sartorius preferred shares have been among the biggest winners on the German stock market for years. This year alone, the paper won 90 percent and was recently more expensive than ever at just under 365 euros. Since the fall of 2010, the profits have added up to more than 8,000 percent and over 20 years it is even almost 16,000 percent.
The share capital of the company, which was founded in 1870 as a precision engineering workshop for analytical balances and has been listed on the stock exchange since 1990, is divided equally into ordinary and preference shares. Half of the 37.4 million ordinary shares belong to a community of heirs, while the family has direct access to another five percent.
Around 34 percent of the ordinary shares belong to the US company Bio-Rad Laboratories – only two percent are in free float. The situation is very different with the preference shares – 91 percent are traded in free float, the rest is held by Sartorius itself.
The most important and most valuable part of the Göttingen Group is the French subsidiary Sartorius Stedim Biotech. The company emerged from the merger of the Sartorius biotechnology division with the French company Stedim. The Sartorius Stedim share is listed on the French stock exchange – its price has more than doubled this year.
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Image sources: Sartorius