Change in Composition of Sartorius Joint Heirship
GÖTTINGEN, Germany, Oct. 13, 2021 /PRNewswire/ -- Karin Sartorius-Herbst and LifeScience Holding SCSp ("LSH") have entered into option agreements to acquire a total portion of approximately 56.7 percent of the shares of inheritances ("Erbteile") of the Horst Sartorius community of heirs ("Erbengemeinschaft") from other members of the Sartorius family.
In total, the inheritances of the joint heirship comprise 50.09% of the ordinary shares of Sartorius AG. Unaffected by the above-described transaction, all shares of the joint heirship continue to be subject to administration by the executor until mid-2028. Lothar Kappich, who is also chairman of the supervisory board of Sartorius AG, will continue to administer the executorship ("Testamentsvollstreckung") as executor of the will.
Karin Sartorius-Herbst is a member of the Sartorius community of heirs since it has been established in 1998. LSH is a consortium of long-term oriented entrepreneurs and entrepreneurial families and is led by Armira.
The agreement remains subject to common conditions and approvals and is expected to close by the end of 2021. The parties involved have agreed not to disclose any further details of the transaction. The changed composition of the joint heirship has no impact on the strategic direction and the management of Sartorius AG.
This press release contains forward-looking statements about the future development of the Sartorius Group. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Sartorius assumes no liability for updating such statements in light of new information or future events. This is a translation of the original German-language press release. Sartorius shall not assume any liability for the correctness of this translation. The original German press release is the legally binding version.
About Karin Sartorius-Herbst
Karin Sartorius-Herbst is the eldest daughter of testator Horst Sartorius. Since his death in 1998 she is a member of the community of heirs and currently holds a third of it.
Armira is a Munich-based holding group that invests in established, profitable and fast-growing companies in Europe, with a focus on family businesses and technology. With its unique capital base of German and international entrepreneurs as well as entrepreneurial families, Armira has the flexibility to invest without a fixed term and to focus on the long-term development of the companies.
The Sartorius Group is a leading international partner of life science research and the biopharmaceutical industry. With innovative laboratory instruments and consumables, the Group's Lab Products & Services Division concentrates on serving the needs of laboratories performing research and quality control at pharma and biopharma companies and those of academic research institutes. The Bioprocess Solutions Division with its broad product portfolio focusing on single-use solutions helps customers to manufacture biotech medications and vaccines safely and efficiently. The Group has been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies. In fiscal 2020, the company earned sales revenue of some 2.34 billion euros. At the end of 2020, nearly 11,000 people were employed at the Group's approximately 60 manufacturing and sales sites, serving customers around the globe.
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