McKesson To Sell Its Austrian Business To Quadrifolia Management - Quick Facts

(RTTNews) - McKesson Corp. (MCK) announced Monday that it has entered into an agreement to sell its Austrian business to Quadrifolia Management GmbH. The sale includes McKesson Austria's Herba Chemosan Apotheker-AG, together with Sanova Pharma GesmbH. Financial terms of the deal were not disclosed.

The transaction is part of McKesson's broader enterprise strategy to exit Europe and continue to evaluate suitable exit alternatives for its businesses in Norway and Denmark. It recently agreed o sell McKesson Europe businesses in UK, France, Italy, Ireland, Portugal, Belgium, and Slovenia.

Meanwhile, Quadrifolia will be conducting a management buyout which will see the existing management of the Austrian business buy all of the Herba Chemosan Apotheker-AG and Sanova Pharma GesmbH, backed by Invest AG.

The transaction is expected to close in fiscal 2022, subject to customary closing conditions, including receipt of required regulatory approvals.