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AZ to sell Astra Tech for $1.8bn

AstraZeneca is to sell Sweden-based dental and devices business Astra Tech to Dentsply for $1.8bn

AstraZeneca (AZ) is to sell Sweden-based dental and devices business Astra Tech to Dentsply for $1.8bn.

Dentsply, a US-based dental equipment maker, is anticipated to complete the acquisition in the second half of 2011.

Astra Tech consists of a dental division, focusing on the research, development, manufacturing and marketing of dental implants; and a healthcare division, focusing on medical devices for use primarily in urology and surgery.

Worldwide revenue for Astra Tech was recorded as $535m for 2010.

"Following a comprehensive strategic review, we believe this transaction represents an excellent outcome for AstraZeneca shareholders," said David Brennan, CEO, AZ. "The high degree of interest and the competitive nature of this process is evidence of the value that the employees of Astra Tech have built in the marketplace."

22nd June 2011

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