Viatris said on July 3, 2024 that it closed its transaction with Cooper Consumer Health SAS, divesting substantially all of its over-the-counter products business for up to €1,950.0 million in cash on a cash-free, debt-free basis.

1. 01

   Viatris said on July 3, 2024 that it closed its transaction with Cooper Consumer Health SAS, divesting substantially all of its over-the-counter products business for up to €1,950.0 million in cash on a cash-free, debt-free basis.

2. 02

   The company said it is receiving cash consideration of €1,850.0 million at closing, and that this amount is subject to adjustments under the Transaction Agreement, including for net indebtedness and net working capital.

3. 03

   The company said it may receive up to €100.0 million in contingent additional cash consideration after closing, payable if the shareholders of the Buyer Parties' affiliated group realize a cash-on-cash multiple of 2.5x on their invested capital upon a change of control or an initial public offering of the group's parent company.

4. 04

   Viatris said it received €25.0 million at closing as a partial advance payment for transition services fees and costs, and that €120.0 million of the cash consideration otherwise payable at closing was retained by the Buyer Parties in anticipation of a sale of certain portions of the business in select geographies.

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Original filing

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