
Clave Mayor to divest Gadea
Spanish venture capital investor Clave Mayor is to divest its 10% stake in pharmaceuticals developer Gadea.
The exit is expected to occur at the end of June or beginning or July. Existing shareholders will buy the stake held by the Seguranza fund, a €36.1m vehicle managed by Clave Mayor that invests in technology-based firms in Castilla y León.
In 2008, Clave Mayor and Caja de Burjos invested €3m in the company in exchange for a minority stake. Other shareholders include the management and pharmaceuticals firms Gentec, Antartis Pharma and Muggio Holding.
In 2012, Gadea is reported to have achieved a €59.8m turnover, representing a €9.3m increase on the previous year.
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