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Rossini (ROSINI: B3/B/B): Recordati Acquisition

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  • Recordati (51.82% owned by Rossini) pays $825m to acquire Enjaymo from Sanofi
  • Additional $250m milestone payments
  • Annual sales $100m for 12 months to August
  • Expected Peak Annual sales $250-300m
  • Funded by existing cash & bank facilities
  • Recordati's leverage will go to 2.4-2.5x and fall to 2.0x 2025 according to the company's press release
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  • Recordati (51.82% owned by Rossini) pays $825m to acquire Enjaymo from Sanofi
  • Additional $250m milestone payments
  • Annual sales $100m for 12 months to August
  • Expected Peak Annual sales $250-300m
  • Funded by existing cash & bank facilities
  • Recordati's leverage will go to 2.4-2.5x and fall to 2.0x 2025 according to the company's press release