REYKJAVIK, Iceland, Dec. 21, 2006 (PRIME NEWSWIRE) -- Actavis Group (ICEX:ACT), the international generic pharmaceuticals company, announced today that it has bought back a total of 93 million shares, or 2.8% of the Group's A class issued share capital.
The ISK 6.128.700.000 (approx EUR67 million) share buy back was completed at a price of 65.9 per share. Actavis total holdings in treasure shares is 169.810.000 shares, which accounts for 5.04% of Group's issued A class shares. The Company's decision to invest in treasury shares is to allow the company to have sufficient ownership of treasury shares to use as a potential consideration for future acquisitions, which are under constant review by Actavis management.