January 23, 2017 / 12:07 PM / 3 years ago

BRIEF-Biotest to sell US therapy business to ADMA Biologics Inc.

Jan 23 (Reuters) - Biotest AG :

* Biotest to sell US therapy business to ADMA Biologics, Inc. receiving approximately 50% of the shares of ADMA Biologics, Inc

* As part of transaction, biotest will contribute 11.5 million euros ($12.34 million) in cash as well as a 14 million euros loan

* EBIT of continued operations is expected to improve by approx. 30 million euros in fiscal year 2016

* In addition, Biotest will contribute up to 11.5 million euros towards a future capital increase of adma on equal terms as third party investors

* Transaction is expected to close during first half of 2017 Source text for Eikon: Further company coverage: ($1 = 0.9322 euros) (Gdynia Newsroom)

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