MISSISSAUGA, ON, March 7, 2019 /CNW/ - On March 6, 2019, Old API Wind-down Ltd. (f/k/a Aralez Pharmaceuticals Inc.) (the "Company") completed its previously announced sale of the Company's TOPROL-XL® franchise to Toprol Acquisition LLC ("Acquisition Sub"), a subsidiary of Deerfield Management Company, L.P., for approximately $130,000,000 as a credit bid (the "Toprol Sale"), pursuant to the asset purchase agreement, dated September 18, 2018, by and among Acquisition Sub and Aralez Pharmaceuticals Trading DAC, a subsidiary of the Company. Acquisition Sub is owned by the secured lenders of the Company, Deerfield Private Design Fund III, L.P. and Deerfield Partners, L.P.
Information about the Company and the court-supervised proceedings is available at a website administered by the Company's claims agent, Primeclerk, at https://cases.primeclerk.com/Aralez. Information is also available at a website maintained by Richter Advisory Group Inc., the Company's court-appointed monitor in Canada, in accordance with the Canadian court proceedings, Richter Advisory Group Inc., at http://insolvency.richter.ca/A/Aralez-Pharmaceuticals.
SOURCE Old API Wind-down Ltd. (f/k/a Aralez Pharmaceuticals Inc.)
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