Belgian radiopharmaceutical firm Ion Beam Applications (IBA) plans to expand its stake in French biomedical technology company CIS Bio International to own 100% of the company.
IBA currently owns 20% of CIS Bio, with the rest of the company owned by IRE (Institut National des Radioéléments) of Fleurus, Belgium. IBA and IRE bought their stakes in CIS Bio from German pharmaceutical company Schering (now Bayer Schering Pharma of Berlin) in 1996.
Terms of the buyout are under negotiation and should be finalized in the first half of 2008, Louvain-la-Neuve-based IBA said. The price is expected to be 20 million euros ($27.7 million), to be paid in cash and IBA shares.
By AuntMinnie.com staff writers
September 14, 2007
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