May 13, 2019 / 5:44 AM / 6 days ago

Belgium's Fagron to expand into Mexico with Cedrosa buy

May 13 (Reuters) - Belgian pharmaceutical ingredients group Fagron NV said on Monday it was acquiring Central de Drogas, S.A. de C.V. (Cedrosa) in a 352 million Mexican pesos ($18.39 million) cash deal to expand further its presence in Latin America.

The total consideration for the acquisition, which will mark Fagron’s foray into the growing Mexican personalised medicine market, is capped at 462.5 million pesos with the potential for an earnings before interest, tax, depreciation and amortization (EBITDA) linked earn-out of up to 110.5 million pesos in cash over a two-year period. ($1 = 19.1425 Mexican pesos) (Reporting by Pawel Goraj; Editing by Rashmi Aich) ;))

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