Indian Multinational Pharma Firm Zydus Lifesciences gets 85.6 % Stake in Amplitude Surgical

Amplitude Surgical SA (Amplitude) and Zydus Lifesciences Limited (Zydus) attest that Amplitude has consulted with Amplitude SAS's works council and provided the required information. As a result, Zydus has agreed to buy 75.4 percent of Amplitude's share capital from PAI Partners, Olivier Jallabert, and other Amplitude managers for €6.25 per share.

This, along with the two share purchase agreements with two minority shareholders that were already signed on March 11, 2025, accounts for 85.6 percent of Amplitude's share capital (Block Acquisition).

The completion of the Block Acquisition is still contingent upon the standard closing conditions, as stated in the joint announcement of March 11, 2025. These conditions include the approval of the French Minister of Economy as part of the oversight of foreign investments in France, the reinvestment of Amplitude CEO Olivier Jallabert in the business, and the absence of qualified material adverse events.

If the closing conditions are met, Zydus will purchase 85.6 percent of Amplitude's share capital.

It is now anticipated that the Block Acquisition closure will be finished by Q3 2025. Following this completion, Zydus would submit the required simplified tender offer to the Autorité des Marchés Financiers (AMF), and if all requirements are satisfied, a squeeze out would ensue. The AMF's clearance decision would then continue to govern the opening of the next tender offer.

In this regard, and in accordance with the announcement made on April 17, 2025, agreements have been reached with additional Amplitude minority shareholders to tender 4.7 percent of the company's share capital. As a result, Zydus will be able to undertake a squeeze-out operation and, subject to the previously mentioned conditions, acquire over 90 percent of Amplitude's capital and voting rights at the conclusion of the tender offer.