BioCentury
ARTICLE | Finance

Herkulean return

Sale of omega-3 play Pronova will return over 13x to Norway's Herkules

December 17, 2012 8:00 AM UTC

Herkules Capital, the largest shareholder of Pronova Biopharma ASA (OSE:PRON), is looking at a more than 13x return when chemicals company BASF AG (Xetra:BAS; LSE:BFA) acquires the biotech this week.

Herkules first invested NOK165 million ($24.7 million) in 2004 to buy an 80.1% stake in Pronova from Norsk Hydro ASA(OSE:NHY; LSE:NHY)...