ALK Sells European Veterinary Business to Fidelio Capital; Terms Not Disclosed

ALK AKABY today announced that it has entered into an agreement to divest its European veterinary business, including related production facilities in the Netherlands. ALK's veterinary business specialises in the development, manufacturing and marketing of immunotherapy products for veterinary use.   The divestment is in line with ALK's ongoing efforts to simplify its business structure and accelerate the rationalisation of its product portfolio. ALK's business strategy, as outlined in the recent Q3 interim report, is to focus sales efforts on standardised and evidence-based products for human use, such as the SLIT-tablet portfolio.  The agreement with the buyer - the Swedish investment company Fidelio Capital - is final and the transaction will be effective as of 30 December 2015.  The value of the transaction is undisclosed, however, the divestment is expected to impact ALK's full-year guidance on free cash flow positively by DKK 40-50 million. The divestment does not materially impact ALK's full-year guidance for revenue and EBITDA before special items. The net gain on the sale will be recognised as special items in the profit and loss statement.   Kempen & Co acted as exclusive M&A advisor to ALK.  ALK's European See full press release