Consort Medical gets shareholder approval for sale of King Systems
Consort Medical will sell its King Systems division after receiving approval from shareholders.
Consort Medical will sell its King Systems division after receiving approval from shareholders.
The medical devices company said it will dispose of the manufacturer of anaesthesia and respiratory items for a consideration of $120m cash, plus an adjustment of approximately $5.0m for estimated working capital and net indebtedness at completion.
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The initial consideration is subject to a post-completion adjustment for actual working capital and actual net indebtedness at completion.
Proceeds will be used to repay debts of the company.
Shares rose 2.73% to 678.50p at 14:44 Friday.
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