Elan to realise $122m on Athena sale

Elan and stockholders of its subsidiary, Athena Diagnostics, have agreed to sell all outstanding stock of Athena Diagnostics to Behrman Capital for $122m (€122.6m).

As a result of the sale of its 80% stockholding in Athena Diagnostics, Elan expects to realise approximately $82m (€82.4m) in cash after giving effect to contractual payments, including payments to Athena Diagnostics' other stockholders.