CVC in talks over acquisition of Recordati

According to press reports, the proposed deal is valued at around €3bn.

Press reports suggested that CVC held talks with Recordati over a possible takeover in recent months but that the deal was put on hold in May due to concerns about the country's political uncertainty. The negotiations were then revived in June, after the formation of a new Italian government.

The Recordati family, via its holding Fimei, controls a 51.7% stake in the company.

Fimei CEO Alberto Recordati said in a statement that while the talks are proceeding, there are still several obstacles to overcome that could jeopardise the outcome of the negotiations.

Press reports mentioned disagreements between the Recordati family members regarding the future of the company, and the decision to fully exit the business is still controversial.

Recordati, which is listed on the Italian stock exchange, has a market capitalisation of around €7bn and a net debt of €484.6m.

The company recorded EBITDA of €454.7m in 2017, up 22.5% on the previous year, from revenues of €1.3bn.

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• Topics
• Buyouts
• Southern Europe
• Healthcare
• Italy
• CVC Capital Partners