{"id":8188,"date":"2012-02-22T02:23:20","date_gmt":"2012-02-22T00:23:20","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-1-paladin-labs-to-buy-45-pct-stake-in-south-africas-litha\/"},"modified":"2012-02-22T02:23:20","modified_gmt":"2012-02-22T00:23:20","slug":"update-1-paladin-labs-to-buy-45-pct-stake-in-south-africas-litha","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-paladin-labs-to-buy-45-pct-stake-in-south-africas-litha\/","title":{"rendered":"UPDATE 1-Paladin Labs to buy 45 pct stake in South Africa&#8217;s Litha"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocatio\/spann\">Feb 21 (Reuters) &#8211; Paladin Labs Inc said it<br \/>\nplans to buy a near 45 percent stake in South Africa&#8217;s Litha<br \/>\nHealthcare Group Ltd in a complex deal to expand its<br \/>\nfootprint in the region.<span><\/span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The deal will see Paladin speed up its buyout of the near 55<br \/>\npercent of Pharmaplan it does not currently own. It will then<br \/>\nsell the business to Litha in a cash-and-stock deal.<\/p>\n<p><span><\/span><\/p>\n<p>Pharmaplan provides marketing and sales services for small<br \/>\nto mid-sized drug makers in South Africa and other sub-Saharan<br \/>\nterritories.<\/p>\n<p><span><\/span><\/p>\n<p>Litha will issue 169.1 million shares at 2.75 rand (36<br \/>\ncents) apiece to buy Pharmaplan, but Paladin did not specify the<br \/>\ncash part of the deal. Paladin also agreed to buy an additional<br \/>\n73 million Litha shares from Blackstar Group at the<br \/>\nsame price.<\/p>\n<p><span><\/span><\/p>\n<p>Paladin said it expects to spend C$48 million in cash and<br \/>\nissue 88,948 shares at C$44.97 each to complete the combined<br \/>\ntransactions, which will make it Litha&#8217;s single largest<br \/>\nshareholder.<\/p>\n<p><span><\/span><\/p>\n<p>The deal is expected to be accretive to Paladin&#8217;s earnings<br \/>\nbefore interest, taxes, depreciation, and amortization (EBITDA)<br \/>\nimmediately upon closing, the Canadian company said in a<br \/>\nstatement.<\/p>\n<p><span><\/span><\/p>\n<p>Shares of Montreal-based Paladin were marginally off at<br \/>\nC$40.96 on Tuesday on the Toronto Stock Exchange.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Feb 21 (Reuters) &#8211; Paladin Labs Inc said it plans to buy a near 45 percent stake in South Africa&#8217;s Litha Healthcare Group Ltd in a complex deal to expand its footprint in the region. The deal will see Paladin speed up its buyout of the near 55 percent of Pharmaplan it does not currently [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8188","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8188"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8188\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}