Eckert & Ziegler and IBt to consolidate their activities in the brachytherapy area

(PresseBox) ( Berlin, )
Eckert & Ziegler AG, a specialist for medical isotopes, today signed a Letter of Intent with Belgian medical device company International Brachytherapy SA (IBt) about the consolidation of their respective implant businesses. For this purpose of this consolidation, Eckert & Ziegler will transfer the shares of it s subsidiary Eckert & Ziegler BEBIG GmbH, which contains the implant business, against shares of IBt that are issued through a capital increase. In addition, Eckert & Ziegler grants IBt the option to later also purchase the reminder of its therapy business.

The implant business of Eckert & Ziegler, according to preliminary figures, in 2007 had revenues of roughly 10 Mio. EUR and an EBITDA of 3.9 Mio. EUR. The remaining parts of the therapy segment of Eckert & Ziegler had revenues of approximately 12 Mio. EUR.

Also part of the agreement is an option, given by the founders of IBt to EZAG, about the transfer of so called "IBt Beneficiary Shares" that the founders currently hold. The Beneficiary Shares offer no direct economic benefit, but carry voting rights in the share holder meeting of IBt. Eckert & Ziegler will be able to acquire these rights in exchange for approximately 1 Mio. EUR in treasury shares of Eckert & Ziegler.

Should Eckert & Ziegler exercise the option to acquire the Beneficiary Shares, it would need to submit amendatory take over bit to the other share holders of IBt.

More details about the transaction and background can be found in the press release that has been put into the websites of Eckert & Ziegler and IBt.
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