3M to Sell Drug-Delivery Business to Altaris Capital Partners
12 Décembre 2019 - 4:02PM
Dow Jones News
By Colin Kellaher
3M Co. (MMM) on Thursday said it agreed to sell substantially
all of its drug-delivery business to an affiliate of private-equity
firm Altaris Capital Partners LLC for total consideration of about
$650 million.
The St. Paul, Minn., manufacturing and technology giant said the
consideration includes cash, an interest-bearing security, and a
17% stake in the business, which has annual sales of about $380
million.
3M said it expects to post a gain of 45 cents to 50 cents a
share on the transaction, which it expects to complete in the first
half of 2020.
The company said it will retain its transdermal drug-delivery
components business.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 12, 2019 09:47 ET (14:47 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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