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15-10-20
UAE expands in pharmaceuticals
(MENAFN) Mubadala Investment Company declared that it is investing 200 million Euros (USD234 million) in Evotec SE, a German pharmaceutical company that works on drug solutions, that will issue approximately 11,478,298 new shares to Mubadala, and Novo holdings A/S, which will escalate Evotec's cash revenues by 250 million Euros (USD290 million) in totality.
Mubadala is known for its history of tactical investments in the healthcare division, and in this private capital raise plan, they will invest 200 million Euros (USD234 million) to for almost 5.6 percent of Evotec shares.
Novo Holdings A/S, is already a known shareholder in Evotec, and will also contribute 50 million Euros (USD58.5 dollars) to help escalate the anticipated growth after Mubadala's investment.
MENAFN1510202000450000ID1100962302
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