Learn To Invest
Stocks Special Reports LICs Credit Funds ETFs Tools SMSFs
Video Archive Article Archive
News Stocks Special Reports Funds ETFs Features SMSFs Learn
About

Company News Summary

Wesfarmers Announces Completion of API Acquisition

31 Mar 2022  |  15:11:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Completion of API acquisition

Wesfarmers announced the implementation of the Scheme of Arrangement ("Scheme") under which WFM Investments Pty, a wholly-owned subsidiary of the Company, has acquired 100 per cent of the shares in Australian Pharmaceutical Industries (API). The Scheme Consideration of $1.50 per share paid to API shareholders on 31 March 2022, brings the total cash consideration to $1.55 per share, including $0.05 per share in dividends paid to API shareholders since the announcement of the Scheme. The initial capital employed for the Company's Health division is expected to be $1,025m, reflecting the total cash consideration of $774m paid to API shareholders plus the estimated funding requirement for API's net debt and associated working capital balance.

Please click here for full details

See more ASX300 News Announcements