Acquisition of minority shareholding
February 26 2010 - 2:00AM
UK Regulatory
TIDMCRYO
RNS Number : 7160H
Cryo-Save Group NV
26 February 2010
26 February 2010
Cryo-Save Group N.V.
Acquisition of minority shareholding of Hungarian and Czech Republic
subsidiaries
Cryo-Save Group N.V. (AIM/Euronext: CRYO, "Cryo-Save" or "the Group"), Europe's
leading stem cell bank, has acquired the remaining 30% minority shareholding of
its Hungarian subsidiary, Sejtbank Egeszsegugyi Szolgaltato Korlatolt
Felelossegu Tarsasag and its subsidiary in the Czech Republic, Cryo-Save CZ
s.r.o. (formerly Archiv Bunek), for a total cash consideration of EUR1.4 million.
Marc Waeterschoot, Chief Executive, commented:
"The acquisition of the remaining 30% of our Hungarian and Czech Republic
subsidiaries is a logical step in their full integration into the Group,
particularly as the Hungarian operation is one of our most successful
businesses."
Enquiries:
+-------------------------------+----------------------------+
| Cryo-Save Group | + 31 (0) 575 548 998 |
+-------------------------------+----------------------------+
| Marc Waeterschoot, Chief | |
| Executive | |
| Arnoud van Tulder, Chief | |
| Financial Officer | |
+-------------------------------+----------------------------+
| | |
+-------------------------------+----------------------------+
| Daniel Stewart & Company plc | + 44 (0) 20 7776 6550 |
+-------------------------------+----------------------------+
| Simon Leathers / Emma Earl | |
+-------------------------------+----------------------------+
| | |
+-------------------------------+----------------------------+
| College Hill | + 44 (0) 20 7457 2020 |
+-------------------------------+----------------------------+
| Adrian Duffield/Rozi Morris | |
+-------------------------------+----------------------------+
About Cryo-Save
With more than 120,000 samples saved, Cryo-Save is the leading stem cell bank in
Europe and one of the fastest growing in the world. Driven by its international
business strategy, Cryo-Save is now represented in 38 countries on three
continents and has state-of-the-art processing facilities in Belgium, Germany,
Dubai, India and France (under construction).
Cryo-Save sets the highest quality standards in stem cell storage, as it aims to
make an important contribution to conquer possible life-threatening diseases in
the future. As a service to the public, Cryo-Save offers a Cost-free Family
Donation Programme, free of charge, to families wishing to store their newborn's
umbilical cord blood stem cells for a family member diagnosed with a
life-threatening disease treatable by stem cells. The company is committed to
further improve stem cell cryopreservation techniques, by participating in
European Commission funded projects, in Universities and Hospitals.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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