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This article was originally published in The Gray Sheet

Executive Summary

Firm agrees to buy a majority interest in OST Developpement SA from parent Transphyto SA in a two-step transaction valued at $1.5 mil. The deal entails the June 25 purchase of 5% interest in the company; an additional 85% stake will be acquired no later than March 1999, provided OST achieves certain milestones, Osteotech says. The agreement allows for the purchase of the remaining 10% of OST at an undetermined price. Purchase of the French bovine bone graft manufacturer is expected to add $4 mil. to Osteotech's top-line and be accretive to earnings in 1999



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