Cryo-Save Group N.V.: Acquisition of Serbian distributor
(Thomson Reuters ONE) -
Cryo-Save Group N.V. (Euronext: CRYO, 'Cryo-Save', or 'the Group'), Europe's
leading adult stem cell storage bank, has acquired a 70% interest in its Serbian
distributor, Life R.F. doo ('Life R.F.').
Cryo-Save paid an initial consideration of ?2.3 million payable in cash and
30,000 Cryo-Save Group N.V. shares, with an option to acquire the remaining 30%
of the shares of Life R.F. in the next 3 years.
The Group expects the acquisition to be earnings enhancing with immediate
effect.
Life R.F. is the leading Serbian family stem cell bank and has been a successful
distributor for Cryo-Save for many years.
Arnoud van Tulder, Chief Executive of Cryo-Save, commented:
"Since its start Life R.F. has operated under the Cryo-Save brand. We are
pleased to incorporate Life R.F. as a part of the Cryo-Save Group. Life R.F. has
demonstrated over the years to be very successful and the market leader in
Serbia.
Life R.F. its strong network amongst the country's top gynaecologists will
ensure a continuous and solid growth over the next years. We are pleased that
Life R.F.'s leadership has agreed to continue to manage Life R.F. We are
confident that their experience and network will benefit the Group".
Enquiries:
Cryo-Save Group + 31 (0) 575 548 998
Arnoud van Tulder, Chief Executive Officer
SPJ Financiële Communicatie (The Netherlands) +31 (0)20 647 8181
Kees Jongsma/Leon Melens
Daniel Stewart & Company plc (UK) + 44 (0) 20 7776 6550
Chris Theis
College Hill (UK) + 44 (0) 20 7457 2020
Rozi Morris/ Adrian Duffield
Free footage is available on www.videobankonline.com
About Cryo-Save
With 150,000 samples saved, Cryo-Save is the leading stem cell bank in Europe
and one of the fastest growing in the world. Driven by its international
business strategy, Cryo-Save is now represented in 40 countries on three
continents with state-of-the-art processing facilities in Belgium, Germany,
Dubai, India and France (validation in progress).
click here for press release in PDF:
http://hugin.info/143308/R/1484820/420028.pdf
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Source: Cryo-Save Group N.V. via Thomson Reuters ONE
[HUG#1484820]
Unternehmensinformation / Kurzprofil:
Datum: 03.02.2011 - 07:00 Uhr
Sprache: Deutsch
News-ID 51008
Anzahl Zeichen: 3121
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Town:
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Kategorie:
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