TORONTO, March 10, 2014 /PRNewswire/ - Patheon Inc. (TSX: PTI) ("Patheon")
announced today that the Ontario Superior Court of Justice (Commercial
List) (the "Court") has issued a final order approving Patheon's
previously announced statutory plan of arrangement (the "Arrangement")
under the Canada Business Corporations Act ("CBCA")pursuant to which JLL/Delta Patheon Holdings, L.P. ("Newco"), which is
sponsored by an entity controlled by an affiliate of JLL Partners Inc.
and Koninklijke DSM N.V., will indirectly acquire all of the issued and
outstanding restricted voting shares of Patheon. In issuing the final
order, the Court has determined that the Arrangement is fair and
reasonable in accordance with the requirements of the CBCA.
It is expected that the Arrangement will be completed on Tuesday, March
11, 2014, assuming the satisfaction or waiver of certain customary
conditions.
About Patheon Inc.
Patheon Inc. is a leading provider of contract development and
commercial manufacturing services to the global pharmaceutical industry
for a full array of solid and sterile dosage forms. Through the
company's recent acquisition of Banner Pharmacaps - a market leader in
soft gelatin capsule technology - Patheon now also includes a
proprietary products and technology business.
Patheon provides the highest quality products and services to
approximately 300 of the world's leading pharmaceutical and
biotechnology companies. The company's integrated network consists of
15 locations, including 12 commercial contract manufacturing facilities
and 9 development centers across North
America and Europe. Patheon enables customer products to be launched
with confidence anywhere in the world. For more information visit www.patheon.com.
Forward-Looking Statements
This press release contains "forward-looking information" or
"forward-looking statements" within the meaning of applicable Canadian
securities laws, including statements regarding the proposed
transaction and expected timing of the transaction, which
forward-looking statements may use forward-looking terminology such as
"may", "will", "expect", "anticipate", "believe", "continue",
"potential", or the negative thereof or other variations thereof or
comparable terminology. Such forward-looking statements may include,
without limitation, statements regarding the completion of the proposed
transaction and other statements that are not historical facts.
These forward-looking statements reflect beliefs and assumptions which
are based on Patheon's perception of current conditions and expected
future developments, as well as other factors management believes are
appropriate in the circumstances. Patheon's beliefs and assumptions may
prove to be inaccurate and consequently Patheon's actual results could
differ materially from the expectations set out herein.
While such forward-looking statements are expressed by Patheon in good
faith and believed by Patheon to have a reasonable basis, they are
subject to important risks and uncertainties including, without
limitation, risks and uncertainties relating to the transaction and
financing thereof, and the satisfaction or waiver of certain other
conditions contemplated by the arrangement agreement dated November 18,
2013 between Patheon and Newco. As a result of these risks and
uncertainties, the proposed transaction could be modified, restructured
or may not be completed, and the results or events predicted in these
forward-looking statements may differ materially from actual results or
events. These forward-looking statements are not guarantees of future
performance, given that they involve risks and uncertainties. Patheon
is not affirming or adopting any statements made by any other person in
respect of the proposed transaction and expressly disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, except in accordance with applicable securities laws or to
comment on expectations of, or statements made by any other person in
respect of the proposed transaction.
Cautionary Statement
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
SOURCE Patheon Inc.