SkyePharma grows stake in Astralis
SkyePharma is moving to increase its equity in fellow UK-based group Astralis via the signing of a non-binding term sheet to buy 11.2 million additional shares in the firm from two former directors, in exchange for around 6 million ordinary shares of SkyePharma. On completion of the transaction, which is subject to a number of conditions, SkyePharma will own 36.4 million shares in Astralis, representing 49.7% of the outstanding common stock, it said.
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