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Ivax selling McGaw I.V. products subsidiary to B. Braun for $320 mil. cash, up to $80 mil. in future payments.

Executive Summary

IVAX TO SELL McGAW I.V. PRODUCTS SUBSIDIARY TO B. BRAUN FOR $320 MIL. in cash, Ivax announced May 30. B. Braun also will pay up to $80 mil. in additional payments over several years, contingent upon the combined operating results of McGaw and B. Braun Medical, Melsungen AG's principal U.S. operating subsidiary. The cash payment due at closing will be used to pay off Ivax' existing revolving credit facility, the Miami-based generics company said. The deal is expected to close in June.
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