December 9, 2020

Sanofi, Kiadis Satisfy Competition Condition Regarding Tender Offer

By haziqbinarif


(RTTNews) – Sanofi (SNYNF, SNY) and Kiadis said that the competition condition for completion of offer has now been satisfied. The companies anticipate that offer will close in the first half of 2021.

In early November, Sanofi announced a definitive agreement to make a public offer to acquire Kiadis, a Dutch clinical-stage biopharmaceutical company, for 5.45 euros per share, representing an aggregate adjusted equity value of 308 million euros.

On November 30, Sanofi said it would submit a request for review and approval of the offer document in relation to the offer with the Netherlands Authority for the Financial Markets. The companies said the process to obtain the required competition clearance for the offer was proceeding.

In a separate press release, Sanofi said Wednesday that it has signed two first sustainability-linked revolving credit facilities, as part of its strategy to secure its long-term financing sources.

A new 4 billion euros revolving credit facility will expire in December 2025, with two extension options of one year each.

An amendment of the 4 billion euros revolving credit facility will expire in December 2021 with the addition of two extension options of one year each.

Sanofi decided to link part of its long-term financing to the fulfilment of two of its core commitments between now and 2025: Contribute to eradicate Polio; achieve a 30% reduction of its carbon footprint aligned with its validated SBTI goal, following the 1.5°C scenario.

“We took the opportunity of the refinancing of our €8 billion lines to link our facilities to our sustainability performance,” said Jean-Baptiste de Chatillon, Chief Financial Officer at Sanofi.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



Source link