DJ Covetrus to Enter JV in Spain and Portugal
By Stephen Nakrosis
Covetrus Inc. (CVET) on Tuesday said it will establish a joint venture, combining its Portugal and Spain businesses with Distrivet, a provider of veterinary products and services in Spain.
Covetrus will own 50.01% of Distrivet, a Covetrus company, and the JV "will be treated as an investment under the equity method of accounting," the company said.
The deal is expected to close within 90 days, Covetrus said.
Financial terms of the deal weren't disclosed.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
January 14, 2020 16:42 ET (21:42 GMT)
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