Gruenenthal, Empresas Andromaco Group deal

On Dec. 27, 2013, Gruenenthal acquired a 81.6% stake in Laboratorios Andromaco S.A. (Santiago:ANDROMACO, Santiago, Chile) for CLP332.48 per share in cash, or CLP152.1 billion ($288.2 million). Gruenenthal said it acquired all subsidiaries of the Empresas Andromaco Group through its acquisition of Laboratorios Andromaco, the only stock exchange-listed entity of the group. The CLP332.48 price is a 67% premium to Andromaco's close of CLP199.10 on Sept. 6, 2013, before the deal was announced. Gruenenthal said Sergio Weinstein, vice chairman and former majority shareholder of Laboratorios Andromaco, kept a "significant" stake in Laboratorios Andromaco. ...