15 Jun 2013

Ebos shareholders approve purchase

12:00 pm on 15 June 2013

Shareholders in the pharmaceutical distributor Ebos Group have voted overwhemingly in favour of a $1.1 billion acquisition of Symbion.

The vote was taken at a special meeting of shareholders held in Christchurch on Friday.

Symbion's current owner, the family-owned Zuellig Group, will take a 40% stake in Ebos as part-payment of the transaction.

However Ebos says the move isn't a reverse takeover and the head office will not move to Australia.

Shareholder approval paves the way for the company to raise $149 million through a rights issue.