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SARIA Nederland To Acquire Devro

The boards of SARIA Nederland B.V. and Devro have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Devro. Devro shareholders will be entitled to receive: for each Devro share held: 316.1 pence in cash. The acquisition values the entire issued and to be issued share capital of Devro at approximately 540 million pounds on a fully diluted basis, implying an enterprise value of 667 million pounds. Also, each Devro shareholder will be entitled to receive and retain the 2.9 pence cash dividend for each Devro share held on the Dividend Record Date.

The acquisition is intended to be implemented by Bidco or SARIA Nederland B.V., an indirect subsidiary undertaking of SARIA SE & CO. KG.

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