Knight enters Latin America with Biotoscana deal

Knight enters Latin America with Biotoscana deal

M&A Equity Brazil Canada

Canada's Knight Therapeutics said it has agreed to buy 51.2% of the Brazilian pharmaceutical company Biotoscana for BRL596m ($146m) and set up shop in Latin America.The Canadian company bought the controlling stake from Advent International and Essex Woodlands. It will put out a tender offer to acquire the other 48.8% for roughly BRL568m after the deal closes, the Montreal-based company said in a statement. In all, Knight said it expects to pay BRL1.16bn for all of Biotoscana, or 8.5 times EBITD

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