WARSAW. MARCH 12. INTERFAX CENTRAL EUROPE - Polish blue-chip biotechnology firm Bioton sealed a deal to take over 100% stake in Swiss-based recombinant DNA biopharmaceutical products maker BioPartners Holding, the company said in a communiquA© Saturday.
"Bioton announces that on March 9, 2007, the company clinched an agreement with DLJ Merchant Banking Partners to take over 100% stake in BioPartners Holding with its headquarters in Switzerland," the communiquA© says. "BioPartners owns 100% stakes in companies: BioPartners, which is based in Switzerland and BioPartners, which is based in Germany. Both operate in the biotechnology sector."
Under the transaction Bioton paid of BioPartners' debt of nearly USD 15.8 mln plus interests to DLJ Merchant Banking Partners through own capital and banking loans.
Additionally, Bioton agreed to transferred 81,489,729 shares in I-series of PLN 0.20 per item in nominal value, totaling roughly PLN 16.3 mln.
Recombinant pharmaceuticals are created by combining DNA sequences to create "plasmids," which are then used in new products.