CFR Advances Equity Raise

CFR Advances Equity Raise

Chile M&A Equity Africa

Chile’s CFR Pharmaceuticals has approved a $750m equity capital raise, it says. The transaction, done to finance the $1.3bn purchase of South African drugmaker Adcock Ingram, includes 3.0bn shares to be sold at CLP125.0-CLP134.5 ($0.25-$0.27) each. CFR first proposed the bid in July for the South African. It is paying ZAR47.29 ($4.86) cash per Adcock share and issuing up to 15.44 new CFR shares per Adcock share, or a total of ZAR75.92 per share. The deal is expected to generate revenue and cost

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