Sprint Investments 2 no longer holds stake in Galenica Group

Broad placement of shares among various investors with long-term investment focus

(lifePR) ( Bern, )
The long-standing principal shareholder of Galenica Group, Sprint Investments 2 GmbH, has divested itself of its financial stake in full. As Galenica wished, the shares were placed broadly among various investors with a long-term investment focus.

Sprint Investments 2 GmbH (KKR and Stefano Pessina) had already reduced its stake from 25% to slightly over 20% in May 2016. As had been announced, the company has reduced its holding further over recent weeks such that meanwhile it has sold its financial stake in full.

Galenica was informed with regard to the intended divestments and has followed the transactions closely. The broad placement among various investors with long-term investment focus who support the strategy pursued by Galenica Group was made possible thanks to the pre-emptive right to buy the shares held by Galenica.

Background

In 1999, the Galenica Group and Alliance Boots formed a strategic partnership that granted Alliance Boots a 25% stake in the Galenica Group. Although the ownership structure of the share package changed with the investment of private equity firm KKR in 2007 and the merger of Alliance Boots and Walgreens in 2014 – the share package was consequently held by Sprint Investments 2 GmbH – KKR and Stefano Pessina have continued to assist and support Galenica in recent years.

Sprint Investments 2 GmbH had already announced its intention to sell its Galenica holding a long while ago. Galenica has always understood that the time comes when financial investors wish to realise their profits, particularly after the very positive performance of the share price in recent years.
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