Recordati SpA (RER1.BE)
- Bloomberg
KKR, TPG Express Interest in Italian Drugmaker Recordati
(Bloomberg) -- KKR & Co., TPG Inc. and Advent International are among suitors that have expressed initial interest in Italian drugmaker Recordati SpA, people familiar with the matter said.Most Read from BloombergWhat to Know About the Deadly Flesh-Eating Bacteria Spreading in Japan‘I Live in Hell’: Anti-Growth Fervor Grips US South After Pandemic BoomNvidia Becomes World’s Most Valuable Company as AI Rally Steams AheadStocks Rise as Bullish Nvidia Call Boosts AI Trade: Markets WrapI Didn’t Think
- Reuters
Recordati shares rise as investors reportedly circle CVC stake
Shares in Italian drugmaker Recordati rose almost 3% on Tuesday, boosted by a report that investment funds KKR and TPG had expressed preliminary interest in buying a stake in the company. Speculation about the future of Recordati has increased after majority shareholder CVC Capital Partners hired investment banks JP Morgan and Goldman Sachs to explore options for the pharmaceutical group. The private equity firm, which owns 51.8% of Recordati, is considering all options, including a sale, a merger with another healthcare company, sources told Reuters last month.
- Reuters
CVC explores options for Italy's Recordati, Bloomberg News reports
CVC and Recordati did not immediately respond to a Reuters request for comments. A CVC-led consortium of investment funds had agreed to buy 51.8% of Recordati in a deal worth about 3 billion euros in 2018. Shares of Recordati have risen about 7.7% since the beginning of this year, giving the company a market capitalization of about 11 billion euros ($11.77 billion).
