Sartorius AG, a worldwide leading laboratory and process equipment provider, signed a binding agreement with the biopharmaceutical supplier Stedim Biosystems S.A., a company listed on the Paris stock exchange, and its major shareholders. Under the terms of this agreement, Sartorius acquires a substantial stake in Stedim and combines its Biotechnology Division with Stedim’s business. Sartorius will pay 43 euros per share. Upon completion of this transaction, Sartorius will become Stedim’s majority owner controlling the combined company.
Through the combination of the Sartorius and Stedim biotech businesses, Sartorius is substantially strengthening its position as a technology provider to the fast growing biopharmaceutical market. Stedim’s board supports this deal. The overall transaction, which is subject to approval by Stedim’s shareholders and to regulatory clearance, is expected to be completed in summer 2007. The combined company will be named Sartorius Stedim Biotech S.A. and will be headquartered in Aubagne, France.
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