🤯 Have you seen our AI stock pickers’ 2024 results? 84.62%! Grab November’s list now.Pick Stocks with AI

Marinomed to negotiate sale of Carragelose portfolio

EditorFrank DeMatteo
Published 2024-10-11, 09:50 a/m
© Reuters.
MARI
-

On Monday, Marinomed Biotech AG announced its intention to begin contract negotiations for the sale of its Carragelose portfolio through an asset deal. The decision, made by the Management Board, was based on a strategic review of several offers. The selected potential buyer was chosen for their offer's favorable purchase price, transaction security, and strategic fit, which could provide a sustainable future for the company.

The actual completion of the sale is contingent upon several conditions. These include successful negotiations, the drafting and signing of the transaction documents, and obtaining necessary approvals. The Supervisory Board and the General Shareholder Assembly must approve the deal. Additionally, due to Marinomed's ongoing restructuring, the insolvency administrator and insolvency court must also give their consent, which has not yet been secured.

The prospective sale of the Carragelose portfolio represents a significant step in Marinomed's restructuring efforts. The company aims to ensure a stable and long-term perspective post-transaction. However, the sale is not guaranteed, as it hinges on the outcomes of the detailed negotiations and the requisite approvals.

Marinomed Biotech AG is currently in the midst of a restructuring process. As such, the transaction's progression is subject to the continuation of the company's operations following this process. The insolvency-related approvals are a critical part of moving forward with the sale.

The company will proceed with the contract negotiations in the coming period, with a focus on finalizing the deal to the satisfaction of all parties involved. The outcome of these negotiations and the subsequent approvals will determine the future course for Marinomed's Carragelose portfolio and its overall business trajectory.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.