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BRIEF-Lonza to divest peptides business to PolyPeptide Group
December 7, 2016 / 6:13 AM / a year ago

BRIEF-Lonza to divest peptides business to PolyPeptide Group

Dec 7 (Reuters) - Lonza Group Ag

* Lonza to divest peptides business and operations in Braine-l‘Alleud (Belgium) to PolyPeptide

* Lonza and the PolyPeptide Group jointly announced today that PolyPeptide Laboratories Holding (PPL) has entered into a definitive agreement with Lonza Sales AG and Lonza AG

* Financial terms of transaction are not disclosed

* Will book a non-cash related write-off of chf 44 million in second half of 2016 and then book a non-cash currency translation impact at closing of transaction Further company coverage: (Reporting by Brenna Hughes Neghaiwi)

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