Abu Dhabi’s Mubadala invests $235m in Germany’s Evotec

SourceGulf Business
SectorFinancial Markets
CountryUnited Arab Emirates

Abu Dhabi’s Mubadala Investment Company will pump €200m ($235m) to acquire 5.6 per cent of outstanding shares of German drug development partnership firm Evotec. Meanwhile, Evotec’s existing shareholder Novo Holdings will also invest EUR50m to underscore the former’s accelerated growth and reinforce its ownership in the company. The shares will be issued at a price of €21.7802 per share, which represents a 2.5 per cent discount to the five-day volume weighted average price of €22.3387 prior to the Xetra closing auction on October 12. Evotec has expanded its operations globally, with more than 3,400 employees at 14 global sites across Germany, the US, France, Italy, UK, and Austria. The company aims to improve its global access to more precise and effective medicines by leveraging its proprietary platforms. Furthermore, future investments will accelerate ...read more...