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Galapagos NV

Galapagos NV

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Publicatie datum 01 apr 2014 - 07:30
Statutaire naam Galapagos NV
Titel Charles River Laboratories and Galapagos complete transaction
Bericht Mechelen, Belgium; 1 April 2014 - Galapagos NV (Euronext: GLPG) confirms the completion of the transaction announced on 13 March 2014 to sell the BioFocus and Argenta service division operations to Charles River Laboratories International, Inc. (NYSE: CRL) for a total consideration of up to €134 million. All closing conditions of the definitive agreement have been met, and Charles River is now integrating the BioFocus and Argenta operations into its organization. The purchase price was €129 million in cash, subject to certain post-closing working capital adjustments. Galapagos has received this €129 million payment and today has a cash balance of approximately €248 million. Galapagos is eligible to receive a €5 million earnout payment after 12 months, upon achievement of a revenue target for the divested service division.