Following the announcement made on 7th April 2009, SSL International plc ("SSL") is pleased to announce that it has completed the acquisition of additional shares to increase its stake in Beleggingsmaatschappij Lemore BV ("BLBV") from 15.5% to 50% plus one share.
BLBV is a holding company for operating companies primarily engaged in the packaging and distributing of condoms and medical products across the Commonwealth of Independent States (“CIS”) with the exception of the Ukraine. BLBV is the market leader in this steadily growing condom market and its key condom brand is Contex.
The purchase price of the additional shares is €70.0 million (£60.7 million at current exchange rates) and has been satisfied from SSL's cash and existing facilities.