SSL sells Regent to Apax in £173m deal

THESTOKIE · 05-23-2004, 04:45 PM

Durex condoms maker, SSL International, has agreed to sell Regent Infection Control to Apax Partners in a deal worth £173m.

The management buyout of the SSL business, which comprises the Biogel surgical gloves operation and the Hibi antiseptics business, was finalised late on Friday night. It will allow SSL to lower its near £300m debt pile.

This is the second deal with Apax in just over a month. In mid-April SSL sold its bandages business, Medlock Medical, to Apax for £55m. More details of the latest transaction with Apax are expected to be revealed on Thursday when SSL announces its full-year results.
????: NamePros.com http://www.namepros.com/industry-news/31531-ssl-sells-regent-apax-173m-deal.html

The deal with Apax is the culmination of a radical restructuring programme that has so far raised £250m. However, the weakening dollar means the final sum raised from asset sales will fall £40m short of SSL's original target of £300m.

News of the sale of the surgical gloves and antiseptics division will hearten the City. Shareholders have seen SSL suffer torrid times recently, including a scandal over false invoices that resulted in a Serious Fraud Office investigation with five former directors charged in November.

lol got ya thought that might bring a smile to some sad faces around here

Raf · 05-23-2004, 06:21 PM

Thanks for the news THESTOKIE!

RareIQ · 05-23-2004, 08:25 PM

a deals a deal......................

05-23-2004, 04:45 PM	THREAD STARTER #1 (permalink)
THESTOKIE Senior Member Join Date: Aug 2003 Location: Gods Backyard Posts: 1,680	SSL sells Regent to Apax in £173m deal Durex condoms maker, SSL International, has agreed to sell Regent Infection Control to Apax Partners in a deal worth £173m. The management buyout of the SSL business, which comprises the Biogel surgical gloves operation and the Hibi antiseptics business, was finalised late on Friday night. It will allow SSL to lower its near £300m debt pile. This is the second deal with Apax in just over a month. In mid-April SSL sold its bandages business, Medlock Medical, to Apax for £55m. More details of the latest transaction with Apax are expected to be revealed on Thursday when SSL announces its full-year results. ????: NamePros.com http://www.namepros.com/industry-news/31531-ssl-sells-regent-apax-173m-deal.html The deal with Apax is the culmination of a radical restructuring programme that has so far raised £250m. However, the weakening dollar means the final sum raised from asset sales will fall £40m short of SSL's original target of £300m. News of the sale of the surgical gloves and antiseptics division will hearten the City. Shareholders have seen SSL suffer torrid times recently, including a scandal over false invoices that resulted in a Serious Fraud Office investigation with five former directors charged in November. lol got ya thought that might bring a smile to some sad faces around here

05-23-2004, 06:21 PM	#2 (permalink)
Raf Senior Member Join Date: Feb 2004 Location: Canada Posts: 1,746	Thanks for the news THESTOKIE!

05-23-2004, 08:25 PM	#3 (permalink)
RareIQ Senior Member Join Date: Jul 2003 Location: Florida Posts: 2,155	a deals a deal......................

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