Advent International submits binding offer for STADA Arzneimittel Aktiengesellschaft to STADA management board

  • Cash offer of €58 per share – Premium of 66 percent compared to STADA’s stock price prior to the publication of share purchases of activist investors
  • STADA shareholders will additionally benefit from the expected dividend payment in June 2017
  • Decision of submission of identical public takeover offer to STADA shareholders subject to approval by the management board of STADA
  • Advent supports management’s strategy and commits to the company’s presence in Germany and to grow STADA’s OTC and generic platforms
  • As a strong and experienced partner, Advent endorses STADA’s strategy to build on its leading market position, maintain its independence and accelerate its international expansion plans
  • Additional capital available to accelerate growth
  • Attractive offer with high transaction security in the best interest of the company, its shareholders and employees

Frankfurt, February 23, 2017 – Advent International Corporation (“Advent”) today submitted a legally binding, fully financed offer to purchase all STADA shares to the management board of STADA Arzneimittel Aktiengesellschaft (“STADA”). Advent is convinced that this offer comes with high transaction security and is in the best interest of the company, its shareholders and its employees.

The binding offer as well as the decision to make a voluntary public takeover offer for all shares (WKN: 725180 / ISIN: DE0007251803) of STADA are subject to approval by the management board of STADA.

The offer price will be €58 per share.

– This corresponds to a premium of around 66 percent compared to the share price on March 31, 2016, before the share purchases of activist investors became public.

– It also implies a premium of around 26 percent compared to the calculated volume-weighted three-month average share price before Advent first approached STADA with an indicative proposal on February 1, 2017.

Advent currently expects the transaction to close after the dividend payment for the business year 2016. Investors would therefore benefit from the expected dividend payment in addition to the cash offer price.

As a strong and experienced partner, Advent would further boost STADA’s growth through investments in new products, line extensions and acquisitions. Advent has a firm commitment to STADA’s management, its long-term strategy and to Germany as a base for business and future investment. Advent has no intention to sell off significant parts of the business or to split the company. In fact, Advent’s long-term strategy for STADA centres on developing new growth areas and the targeted acceleration of its international expansion. The geographic focus will be on markets where STADA already has a leading position, particularly Germany, Italy, Spain, the UK, Belgium and Russia. Advent has also identified additional growth potential through expansion and investments in Asia and Latin America. Advent has access to additional capital for future acquisitions and will make its operational experience, sector expertise and extensive global network available, to support management in the execution of its strategy.

Advent International has been active in Germany for more than 25 years and works in close and trusting collaboration with the management teams of its portfolio companies. Since its foundation, Advent has completed over 35 investments in the healthcare sector worldwide, including in the fields of pharmaceuticals (Viatris – formerly Asta Medica, Grupo Biotoscana, LKM, Terapia, Tropon), pharmaceutical distribution (Mediq, Genoa), pharmaceutical outsourcing in sales and clinical research (inVentiv Health), services for health insurance companies (Cotiviti), and service providers and clinics (MEDIAN Kliniken, Priory, ATI Physical Therapy Holdings, American Heart of Poland, Casa Reha).

Important notice:
This announcement is neither an offer to purchase nor a solicitation of an offer to sell shares in STADA Arzneimittel Aktiengesellschaft (“STADA-Shares”). The terms and conditions of a potential public takeover offer which might be published at a later point in time, as well as further provisions concerning such potential takeover offer, will be published in an offer document only after the German Federal Financial Supervisory Authority has granted permission to publish such offer document. A potential takeover offer would likely be made through a holding company controlled by funds advised by Advent International Corporation. In such case, investors and holders of STADA-Shares are strongly advised to read such offer document and all other relevant documents regarding such potential takeover offer when they become available, since they will contain important information.

About Advent International

Founded in 1984, Advent International Corporation (“Advent”) is one of the largest and most experienced global private equity investors. The firm has invested in more than 320 private equity transactions across 40 countries, and as of September 30, 2016, manages €37 billion in assets.

Advent International GmbH was established in Germany in 1991, and provides investment advice to Advent through its Frankfurt-based advisory team. Advent is one of the leading private equity investors in Germany and has been investing in European companies since 1990. Advent International GmbH has advised on investments of more than €3.1 billion in 30 companies. The team focuses on five core sectors: business and financial services; healthcare; industrial and chemicals; retail, consumer and leisure; and technology, media and telecom.

Over the last ten years, investments have included Addiko Bank (formerly Hypo Group Alpe Adria), which operates a banking network in southeast Europe; allnex, the No. 1 global producer of industrial coating resins; Christ, a leading jewellery retailer in Germany; Douglas, Europe’s leading beauty retailer; GFKL, a provider of receivables management services in Germany; Median Kliniken, an independent rehabilitation care provider in Germany; Casa Reha, a leading German private nursing home group; Takko, a pan-European value fashion retailer; Thalia, a leading book retailer in the DACH-region; and Oxea, a leading producer of oxo-alcohols and derivatives.

After 26 years dedicated to pan-European investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies. With management teams, investment advisors, operating partners and other stakeholders, Advent creates a shared vision for the future of our portfolio companies and works collectively to realise the potential we see.

For further information about Advent International, please visit:
www.adventinternational.com/

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Jobst Honig (Press/Investor Relations)
Hering Schuppener Consulting
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