Swisse purchased for a healthy price
Biostime International, a Hong Kong-listed producer of infant formula and milk powder, has purchased 83% of Swisse Wellness for $1.39 billion. The transaction is expected to be funded by the issue of 20.5 million shares and a $450 million bridge loan. Financial metrics related to the transaction have not been released, however we expect the company to provide more information to the market shortly. The sale comes after Swisse competitor Blackmores share price hit $136.78, a rise of almost 290% this year due to surging demand from China. HSBC and ANZ Banking Group helped to fund the deal.
Wilson Asset Management has a track record of making a difference for shareholders and the community for more than 20 years. As the investment manager for eight leading LICs – WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB),...