Mr Joachim Kreuzburg, CEO and chairman, executive board, Sartorius
The respective contract was signed by both parties.
The sales price will be determined as a multiple of the Intec division's 2014 operating profit and be fixed in early 2015.
The contractual parties agreed on a 7.5 multiple on the division's 2014 operating EBITDA.
The transaction is subject to customary closing conditions, including regulatory clearance by the antitrust authorities, and is expected to close in the first quarter of 2015.
"By selling our Intec division to Minebea, we are realizing an important cornerstone of our long-term strategy and focus on our two core activities in Bioprocess and Laboratory....," commented Mr Joachim Kreuzburg, CEO and chairman of the executive board of Sartorius.