U.S. pharmaceutical company Merck & Co. announced that it has agreed to purchase French digital animal identification products provider Antelliq Group from funds advised by UK private equity firm BC Partners.
The company will pay about 2.1 billion euros ($2.3 billion) to buy all outstanding shares of Antelliq and will assume Antelliq’s $1.2 billion debt, which it plans to repay shortly after the completion of the deal.
Antelliq Group will be a wholly owned and separately operated unit within the Merck Animal Health Division.
The deal is subject to clearance by antitrust and competition law authorities and is expected to be completed in the second quarter of 2019.