Discloses signed asset purchase agreement with Huvepharma; will receive $40M in cash - filing
- Agreement for the divestment by Zoetis of two manufacturing sites in the United States: Laurinburg, North Carolina, and Longmont, Colorado. Pursuant to the Agreement, Huvepharma will also assume the assets and operations and, subject to approval from the lessor, the lease of a Zoetis manufacturing and distribution site in Van Buren, Arkansas. Zoetis employees at all three sites will transfer to Huvepharma. The Agreement also provides for the divestment by Zoetis of a portfolio of products, most of which are associated with the Laurinburg, Longmont and Van Buren sites. These products include medicated feed additives, water soluble therapeutics and nutritionals for livestock sold in the United States and international markets.
- Under the Agreement, Zoetis will receive $40 million in cash and additional considerations. The transaction is not material to Zoetis Inc.