Image: The logo of the pharmaceutical company Stada Arzneimittel AG is pictured at its headquarters in Bad Vilbel near Frankfurt March 14, 2012. REUTERS/Alex Domanski
Nidda Healthcare Holding AG, the acquiring company of Bain Capital und Cinven, announced Friday that the minimum acceptance threshold set by the bidder at 63 percent in the offer document published on July 19, 2017 was reached.
Chairman of the Executive Board at STADA, Engelbert Coster Tjeenk Willink said that the question of the future ownership structure has been settled. He said that STADA will now once again be able to fully concentrate on the operating business and to move forward with the growth strategy with the support of two strong partners. “With the extensive industry expertise of the new owners and their access to a worldwide network in the health care sector, STADA’s position as a globally active pharmaceutical company will be sustainably strengthened,” he said.
Ferdinand Oetker, Chairman of the Supervisory Board at STADA, said: “We are happy that our shareholders chose to follow the recommendation of the Executive Board and the Supervisory Board and have accepted the improved offer from Bain Capital and Cinven – for what we consider an attractive price. We are convinced that, thanks to this decision, STADA will be successful in the long term. Both our company and its employees will benefit from this.”
In financial year 2016, STADA achieved adjusted Group sales of €2,167.2 million, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of €398 million and adjusted net income of €177.3 million. As of December 31, 2016, STADA employed approximately 10,900 people worldwide.