Summary
Amgen Inc. announced on April 24, 2012, a significant strategic move with the entry into a Share Purchase Agreement to acquire approximately 95.6 percent of Mustafa Nevzat İlaç Sanayii Anonim Şirketi (Mustafa Nevzat), a Turkish pharmaceutical company. This acquisition, valued at approximately $700 million, will be conducted through Amgen's wholly-owned Turkish subsidiary and involves acquiring shares from both the primary shareholders of Mustafa Nevzat and the sole shareholder of Sihhat Dağitim Pazarlama AŞ., which holds a minority stake in Mustafa Nevzat. The transaction is expected to strengthen Amgen's presence in the Turkish market, a key emerging region. The deal is subject to customary closing conditions, including approval from the Turkish Competition Authority. Notably, Amgen's 2012 financial guidance issued on April 24, 2012, does not incorporate the impact of this acquisition, suggesting that future guidance will reflect its financial implications.
Key Highlights
- 1Amgen entered into a Share Purchase Agreement on April 24, 2012, to acquire approximately 95.6% of Mustafa Nevzat İlaç Sanayii Anonim Şirketi (Mustafa Nevzat).
- 2The acquisition values Mustafa Nevzat at approximately US$700 million, subject to adjustments.
- 3The transaction is being executed through Amgen's wholly-owned subsidiary in Turkey.
- 4The deal involves acquiring shares from the majority holders of Mustafa Nevzat and the sole shareholder of Sihhat Dağitim Pazarlama AŞ.
- 5Closing of the transaction is contingent upon satisfaction of customary conditions, including approval from the Turkish Competition Authority.
- 6Amgen's 2012 financial guidance, provided on April 24, 2012, does not include the financial impact of this acquisition.