Dechra closes Genera takeover

Dechra has announced that on the closing date of its Takeover Offer to acquire the shares in Genera not owned by Mr Marijan Hanžeković the Company had received valid acceptances in respect of 382,390 Genera shares, amounting to 20.73% of Genera’s share capital.

Dechra said on Wednesday that, accordingly, the agreement with Marijan Hanžeković, the majority shareholder in Genera, to acquire his 63.3% holding (equivalent to 69% voting rights) has become unconditional. The majority shares were transferred on 20 October 2015 and the minority shares on 21 October. Dechra now owns 1,549,417 shares in Genera, amounting to 92.26% of the voting rights (83.99% of the share capital) of Genera.

With effect from today, Dechra has taken formal control of Genera and it is the Company’s intention to delist Genera from the Zagreb Stock Exchange.

To date, the aggregate cost of acquiring the 92.26% controlling interest in Genera has been €36.6 million which has been has been funded from Dechra’s existing cash and debt facilities.

Genera is the oldest and largest manufacturer of animal health products in Croatia.