Finance

Online weight management company redeems remaining minority interest for $304.8 million

Published in Obesity and Diabetes Week, January 23rd, 2006

According to a previously announced redemption agreement entered into on June 13, 2005, Weight Watchers International, Inc. (WTW) announced that WeightWatchers.com, Inc. redeemed all of the equity interests in WeightWatchers.com owned by Artal Luxembourg S.A. for the aggregate cash consideration of approximately $304.8 million.

As a result of the redemption, WeightWatchers.com has become a wholly owned subsidiary of Weight Watchers International.

The redemption transaction was financed by WeightWatchers.com through cash on hand and borrowings under two credit facilities consisting of a 5-year, senior secured first lien term loan facility in the...

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Source: Obesity and Diabetes Week (2006-01-23)

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