Marinomed to negotiate sale of Carragelose portfolio

On Monday, Marinomed Biotech AG announced its intention to begin contract negotiations for the sale of its Carragelose portfolio through an asset deal. The decision, made by the Management Board, was based on a strategic review of several offers. The selected potential buyer was chosen for their offer's favorable purchase price, transaction security, and strategic fit, which could provide a sustainable future for the company.

The actual completion of the sale is contingent upon several conditions. These include successful negotiations, the drafting and signing of the transaction documents, and obtaining necessary approvals. The Supervisory Board and the General Shareholder Assembly must approve the deal. Additionally, due to Marinomed's ongoing restructuring, the insolvency administrator and insolvency court must also give their consent, which has not yet been secured.

The prospective sale of the Carragelose portfolio represents a significant step in Marinomed's restructuring efforts. The company aims to ensure a stable and long-term perspective post-transaction. However, the sale is not guaranteed, as it hinges on the outcomes of the detailed negotiations and the requisite approvals.

Marinomed Biotech AG is currently in the midst of a restructuring process. As such, the transaction's progression is subject to the continuation of the company's operations following this process. The insolvency-related approvals are a critical part of moving forward with the sale.

The company will proceed with the contract negotiations in the coming period, with a focus on finalizing the deal to the satisfaction of all parties involved. The outcome of these negotiations and the subsequent approvals will determine the future course for Marinomed's Carragelose portfolio and its overall business trajectory.

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Source: Investing.com