GOTHENBURG, Sweden, Oct. 30, 2002 (PRIMEZONE) -- Nordic Capital has made an agreement to sell the Danish pharmaceutical company, Nycomed, to a company owned by CSFB Private Equity, Blackstone Capital Partners and NIB Private Equity NV. Bure's (Stockholm:BURE) shareholding in Nycomed via Nordic Capital amounts to 7.7 per cent and the invested capital to SEK 113M. As a result of the sale, Bure frees up substantial capital.
Bure's President, Peter Sandberg said: "We have previously announced that some of our indirect holdings via Nordic Capital have been well prepared for an exit. One of these is Nycomed which is now being sold. We have been a stakeholder in Nycomed since 1999".
Nycomed develops, manufactures and markets specialist products, prescription medicines and consumer products in Europe. Nycomed has 36 sales offices in 15 European markets, including the OSS, and production plants in Norway, Denmark, Austria, Belgium and Estonia. The company's head office is located in Roskilde, Denmark. In 2001, total revenues were EUR 508.3M and EBITDA (operating profit before interest, taxes and depreciation) amounted to EUR 105.4M. More than half of the approximately 2,600 employees are involved in sales and marketing.
In May 1999, the Swedish company, Nordic Capital, acquired the majority of Nycomed from Nycomed Amersham Plc. Bure invested in Nycomed in 1999 and 2001 with a total investment of SEK 113M. Nycomed represents SEK 294M of Bure's net asset value.
The deal is expected to be completed and the terms announced at the beginning of December.
Bure Equity AB (publ)
For Further information, please contact:
Irene Axelsson, Head of Corporate Communications +46 706-32 81 83 www.bure.se
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