Bloomberg News

Bioton Owners Approve Capital Increase To Fund Biolek Purchase

October 20, 2011

Oct. 20 (Bloomberg) -- Shareholders of Bioton SA, Poland’s largest biotechnology company, yesterday approved a capital increase of as much as 319.1 million zloty ($100.5 million) through the issue of up to 1.6 billion warrants for Bioton shares to Troqueera Enterprises Limited, the company said in a disclosure statement.

The capital increase will be used to finance acquisition from Troqueera of a 50.1 percent stake in Biolek Sp. z o.o., a maker of veterinary and pharmaceutical products, Bioton’s management board said in a statement. The main reason for the acquisition is a $1.2 billion contract held by Biolek to distribute veterinary products in China from 2012 to 2021, the board said.

Link to Statement:{NSN LTBOWA3PR6RK <GO>}

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