Loading...
Loading...
Philip Morris International Inc.
PM announced today
that Philip Morris Investments B.V. (PM Investments), an affiliate of PMI, as
part of the previously announced arrangement of Medicago Inc. (Medicago), made
on July 12, 2013, acquired 11,348,266 common shares of Medicago for a
consideration of CAD $13,163,989.
The 11,348,266 common shares were acquired pursuant to a prospectus exemption
contained in section 2.11 of Regulation 45-106 respecting Prospectus and
Registration Exemptions (Québec) and represent 4.13% of the issued and
outstanding common shares of Medicago. Following this transaction, the holding
of PM Investments in Medicago consists of 109,957,066 common shares
representing 40% of all of the issued and outstanding common shares of
Medicago. The balance of 164,935,599 common shares of Medicago, representing
60% of all issued and outstanding common shares of Medicago, are owned by
Mitsubishi Tanabe Pharma Corporation (MTPC) and one of its subsidiaries.
This most recent acquisition of common shares was made for investment
purposes. Until Medicago ceases to be a reporting issuer, PMI may, in
accordance with applicable securities laws, make additional investments in, or
disposition of, securities of Medicago, including additional purchases of
Medicago common shares.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: News
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in