MALIN CORPORATION PL

MLC
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Ethypharm Gmbh completed the acquisition of Altan Pharma Limited from Malin Corporation plc and others.

10/01/2021 | 12:00am
Ethypharm Gmbh entered into a definitive agreement to acquire Altan Pharma Limited from Malin Corporation plc (ISE:MLC) and others for €100 million on June 18, 2021. The closing of the transaction, which is subject to competition authority filings, is expected during the second half of 2021. Malin latter announced that it had collected €68 million in proceeds from the sale, post-repayment of Altan Pharma's net debt and transaction costs. Malin expects to use the net proceeds received from the sale of Altan, along with cash on hand, to undertake a significant return of capital to shareholders post the close of this transaction. Altan Pharma recorded €41 million in turnover and Net loss of €1 million in 2020. Jefferies International Limited acted as a sole financial advisor to Altan Pharma. Gennat Mouline and Numa Agnan of Eight Advisory acted as financial advisor to the sellers. on October 1, 2021.
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