€1.7bn bid for Rottapharm stalls
The bid launched by Clessidra Capital Partners and Avista Capital Partners for Italian drugmaker Rottapharm has ground to a halt due to share governance issues and fundraising difficulties.
In May this year, the private equity houses tabled an offer to acquire 50% of Rottapharm from the founding family in a deal that valued the firm at €1.7bn.
It is understood that a complicated deal structure meant the bidders missed the deadline to conclude the transaction.
Founded in 1961 and based in Monza, Rottapharm produces Dona, a glucosamine product that improves joints, and Mucoflux, a product for heart conditions and respiratory treatment. The firm reported a €600m turnover in 2010.
More on Southern Europe
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater
EU FSR could impact PE fundraising with potential rise in ‘clean funds’
FSR could lead GPs to create funds without foreign LPs; red tape around sovereign wealth funds likely
Letter from the editor: Unquote is moving to Mergermarket
Unquote Editor Harriet Matthews outlines Unquote.com's upcoming move to the Mergermarket platform and the new capabilities and intelligence that this brings to Unquote readers
GP Profile: Apheon builds on family roots, mulls exits and reinvestment opportunities
Belgian GP, formerly known as Ergon, to continue to target family- and entrepreneur-owned European businesses
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater