Zuellig sells $323m Ebos stake

Tue, 23 Jun 2020

Zuellig Group sold 9.2 percent of Ebos Group for $323 million in a block trade.Subsidiary Sybos sold 15 million Ebos shares in an underwritten block trade managed by Citigroup at $21.52 a share. The Zuellig unit initially took a 40 percent stake in Ebos in 2013 as part of a $1.1 billion cash-and-scrip takeover of pharmaceutical wholesaler Symbion. The implied price at the time of the Symbion deal was $8.57 per share. Sybos already sold a third of its Ebos shares last year and now owns 18.9 percent. This will be escrowed until Ebos releases...

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