Johnson & Johnson completed the acquisition of an additional 27.9% stake in Ci:z Holdings Co.,Ltd. from CIC Corporation.
January 17, 2019
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Johnson & Johnson (NYSE:JNJ) entered into share purchase agreement to acquire an additional 27.9% stake in Ci:z Holdings Co.,Ltd. (TSE:4924) from CIC Corporation for ¥80.2 billion on October 23, 2018. Johnson & Johnson will acquire 13.6 million at ¥5900 per share. The consideration shall be adjusted on transfer of shares. In a related transaction, Johnson & Johnson made an offer to acquire an additional 52.8% stake in Ci:z Holdings Co.,Ltd. for approximately ¥150 billion on October 23, 2018. The consideration shall be payable on the date of settlement of tender offer. The transaction is conditional upon completion of offer transaction, provision of true warranties, no material adverse effect after agreement signed and Johnson & Johnson shall have performed or complied in all material respects with its obligations under the agreement. Goldman Sachs & Co. LLC and PricewaterhouseCoopers Aarata LLC acted as financial advisors while Mori Hamada & Matsumoto LPC and Robert I. Townsend III, Damien R. Zoubek and J. Leonard Teti LL of Cravath, Swaine & Moore LLP provided legal advisory services to Johnson & Johnson.
Johnson & Johnson (NYSE:JNJ) completed the acquisition of an additional 27.9% stake in Ci:z Holdings Co.,Ltd. (TSE:4924) from CIC Corporation on January 17, 2019. At the closing of the transaction, Johnson & Johnson will hold 89% stake in Ci:z Holdings Co., Ltd.
Johnson & Johnson is one of the world's leading producers of healthcare products. Net sales break down by family of products as follows:
- pharmaceutical products (55.4%): drugs intended for the treatment of cardiovascular diseases, oncological diseases, gastro-intestinal illnesses, infectious, immunological, neurological, dermatological diseases, etc.;
- medical products and equipment (28.9%): diagnostic systems, orthopedic and gynecological equipment, surgical materials, etc. for use by healthcare professionals;
- consumer health products (15.7%): OTC drugs (Tylenol, Sudafed, Benadryl, Zyrtec, Motrin, Nicorette and other brands), health and beauty products (Aveeno, Clean & Clear, Dr. CI:Labo, Neutrogena and OGX), baby care products (Johnson's and Aveeno Baby), oral care products (Listerine), feminine hygiene products (Stayfree and Carefree and o.b.), wound care products (Band-Aid and Neosporin) etc.
At the end of 2022, Johnson & Johnson has 89 manufacturing facilities located in the United States (28), North America (9), Europe (27), Africa and Asia/Pacific (25).
Net sales are distributed geographically as follows: the United States (51.2%), Europe (24.7%), Asia/Pacific and Africa (17.7%) and other (6.4%).
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