UCB has sold successfully its stake in Cytec Industries
Thursday March 8, 10:38 am ET
BRUSSELS, BELGIUM--(MARKET WIRE)--Mar 8, 2007 -- at 4:30 PM (CET) -- UCB announced today that it has sold all its 5,772,857 million shares held in Cytec Industries Inc. ("Cytec") for 248 million euros, realizing a capital gain of more than 20 million euros.
On March 1, 2005, UCB sold its Surface Specialties business to Cytec. Consideration for the transaction was 1,190 million euro in cash and 5,772,857 shares of Cytec. The contractual lock-up period for these Cytec shares expired on February 28, 2007.
Headquartered in Brussels (Belgium), UCB is a leading global biopharmaceutical company dedicated to the research, development and commercialisation of innovative pharmaceutical and biotechnology products in the fields of central nervous system disorders, allergy/respiratory diseases, immune and inflammatory disorders and oncology - UCB focuses on securing a leading position in severe disease categories. Employing more than 8,400 people in over 40 countries, UCB achieved revenue of 2.5 billion euro in 2006. UCB is listed on the Euronext Brussels Exchange and owns 87.6% of Schwarz Pharma.
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