Stallergenes Welcomes Ares Life Sciences as a New Reference Shareholder
Antony, France, November 10 (ots/PRNewswire) - Following theannouncement that Wendel had entered exclusive negotiations with AresLife Sciences on October 28, 2010, with a view to selling its entirestake (around 46%) in Stallergenes, the company's Works Council meton November 10, 2010.
Stallergenes' Works Council having returned a positiveconsultative opinion at this meeting, Wendel and Ares Life Sciencesproceeded to sign a firm transfer agreement.
It is in this context that the Stallergenes Board of Directorsmet today. It took note of Ares Life Sciences' intention to pursuethe development of Stallergenes from the company's French industrialfootprint (production units and R&D centre in Antony and Amilly),accelerate the execution of the company's strategic roadmap, as wellas further support its international development, notably in the US.The Stallergenes Board of Directors took also note that Ares LifeSciences does not foresee any change within Stallergenes' jobs,salary or human resources policies.
During the meeting, Stallergenes' Chairman and CEO, AlbertSaporta, has declared: "The Ares Life Sciences team, which hasalready enjoyed some major successes on the European and Americanpharmaceutical markets, has a thorough understanding of the issuesrelated to our sector and supports our entrepreneurial vision. Thisexpertise will be of great benefit to the company in its currentexpansion phase".
The Board of Directors also took note of the resignation of fourof its directors (Messrs. David Darmon, Arnaud Fayet, Dirk-Jan VanOmmeren and Compagnie Financiere de la Trinite) and decided to co-optMrs Paola Ricci and Messrs Jacques Theurillat, Patrick Lee, andChristian Chavy to replace them. These changes of board directorsremain subject to the completion of the sale of Wendel's stakeholdingin Stallergenes to Ares Life Sciences.
Given the absence of any conflict of interest with respect to theplanned sale, the Board members also decided to appoint theaccountancy firm Ledouble SA as an independent expert with a view toissuing a fairness opinion in the context of the takeover bid thatAres Life Sciences will submit regarding the totality ofStallergenes' shares in application of the regulations in force. Thisappointment will come into force on the date of transfer of Wendel'sstakeholding.
Stallergenes and Ares Life Sciences' management teams will hold ajoint telephone conference on Wednesday November 17 at 6 p.m. toanswer questions related to this change in shareholding.
In application of the provisions of the AMF's GeneralRegulations, the Board of Directors may publish its opinion on thevalue of the said takeover bid or its consequences for Stallergenes,its shareholders and its employees on the internet once the plannedbid has been submitted to the market authority.
About Stallergenes
Stallergenes is a European biopharmaceutical company dedicated toimmunotherapy treatments for the prevention and treatment ofallergy-related respiratory diseases, such as allergicrhinoconjunctivitis, rhinitis and asthma.
A pioneer and leader in sublingual immunotherapy treatments,Stallergenes dedicates more than 20% of its turnover, in gross terms,to Research and Development and is actively involved in thedevelopment of a new therapeutic class: sublingual immunotherapytablets. In 2009, Stallergenes had a turnover of 193 million eurosand more than 500,000 patients were treated with Stallergenes'immunotherapy products.
Euronext Paris (Compartment B) SBF 120. ISIN code: FR0000065674 Reuters code: GEN.PA Bloomberg code: GEN.FP For further information, please visit our website: http://www.stallergenes.com
ots Originaltext: StallergenesIm Internet recherchierbar: http://www.presseportal.de
Contact:CONTACT: Contacts: Albert Saporta - Chairman and CEO., Tel:+33-1-55-59-20-04; Christian Thiry - Financial Director, Tel:+33-1-55-59-20-95, e-mail: investorrelations@stallergenes.fr; Pressrelations: Lise Lemonnier - Communication Manager, Tel: +33-1-55-59-20-96,e-mail: llemonnier@stallergenes.fr; Investor and analyst relations: Lucilede Fraguier - Pavie Finance, Tel: +33-1-42-15-04-39, e-mail:contact@pavie-finance.com
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Stallergenes Welcomes Ares Life Sciences as a New Reference Shareholder
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