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Karo Pharma completes 3.4B Swedish kronor acquisition of Trimb

Karo Pharma AB (publ) completed its acquisition of all the shares of Trimb Holding AB from Avista Capital Holdings LP and other shareholders for 3.4 billion Swedish kronor.

Stockholm-based Trimb owns licenses to, markets and sells over-the-counter pharmaceutical and consumer healthcare products, including a portfolio of skin care, foot care, oral care and intimate health brands.

Part of the financing for the acquisition includes a bridge loan facility, the repayment of which hinges on the proceeds from a 1.5 billion kronor offering of Karo Pharma's new shares with pre-emptive rights. The company's board plans to execute the share issue during the fourth quarter of 2019, subject to authorization from the company's shareholders.

As part for the deal, Karo Pharma appointed Magnus Nylén, Trimb's former CEO, as chief sales officer of the company.

Stockholm's Karo Pharma develops and markets prescription pharmaceuticals, over-the-counter products, medical devices and other health related products.

As of Sept. 12, US$1 was equivalent to 9.65 Swedish kronor.