Evotec AG to Acquire Aptuit

EVOTEC AG (Frankfurt Stock Exchange, Prime Standard, ISIN: DE 000 566480 9, WKN 566480) today announced that it has entered into a definitive agreement with Aptuit Holdings LLC ("Aptuit") under which Evotec will acquire all operational business of Aptuit for $ 300 m (approx. EUR 256 m) to combine the businesses and expand Evotec's role as leading player in integrated outsourced drug discovery and development solutions. In particular, Evotec is aiming for a value chain extension through unique solutions in integrated drug discovery and development. Aptuit is a profitable pharmaceutical services company that offers integrated early discovery to mid-phase drug development services in the biotech and pharmaceutical industry. The Company has approx. 750 employees and three main operating sites in Europe (Verona, Oxford and Basel). The acquisition is expected to close in Q3 2017.

Evotec will pay a total consideration of $ 300 m (approx. EUR 256 m; EUR/$ exchange rate of 1.17) in cash for the acquisition of 100% of the issued and outstanding equity interests of Aptuit Global LLC, Aptuit (Potters Bar) Limited and Aptuit (Switzerland) AG and the funding of all (albeit limited) existing company debt. The acquisition is financed through a mix of existing cash reserves and an additional new EUR 140 m senior debt facility.

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