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Zur Rose, the Swiss online pharmacy that went public last year, plans to raise Sfr200m via a rights issue to fund its takeover of the e-commerce operations of Medpex, a competitor in Germany.
Morgan Stanley and UBS are global co-ordinators. The deal is fully underwritten.
In a statement on Thursday, Zur Rose said it had agreed to acquire Medpex’s e-commerce activities for an initial purchase price in cash and shares of 0.7 times Medpex’s expected 2018 sales of €170m.
There are also two subsequent earn out components in 2019 and 2010 that may raise the total cost of the acquisition to €170m.
The founders of Medpex will become shareholders in Zur Rose as a result of...