Eurofins signs definitive agreement to acquire majority stakes in Institut Pasteur de Lille subsidiaries, IPL SED Nord and IPL Invest.
Following the signing of an exclusive discussion agreement with the Fondation Institut Pasteur de Lille (IPL), Eurofins Scientific announced that it has signed a definitive, mutually-binding agreement on to acquire a 67% stake in each of its two subsidiaries, namely IPL Invest and IPL Santé Environnement Durable Nord (IPL SED Nord). These entities are leaders in the French environmental testing market, and generate combined annual revenues of approximately EUR 45m.
The transaction to take a controlling stake in the aforementioned companies is expected to be completed on the 31st of October, 2011, and is subject to customary formal closing conditions. In preparation of the expected integration of the IPL SED companies into Eurofins, both groups have commenced a commercial and technical cooperation to combine their expertise in environmental analysis, and now offer customers an integrated portfolio of high-quality analytical solutions, with an optimal coverage of the French market.
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