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Article: American Capital Receives $182 Million In Proceeds From Sale of Axygen Bioscience.
- Article from:
- Chemicals & Chemistry Business
- Article date:
- October 2, 2009
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American Capital Ltd. (NASDAQ:ACAS) announced that on September 15, it completed the sale of its portfolio company Axygen BioScience Inc., including its subsidiaries Axygen Inc. and Sorenson BioScience Inc., to Corning Incorporated for approximately $400 million. The total inception to date gain and income, including dividend and fee income, from the equity invested by American Capital's affiliated funds under management was $102 million, representing a 25% compounded annual rate of return. American Capital received $182 million in proceeds and realized a gain of $35 million from the transaction, subject to post-closing adjustments. American Capital's total inception to ...