Recordati in the crosshairs of British fund Cvc: Opa coming soon
The British fund, already a shareholder, sent a letter to the board announcing the transaction
by Carlo Festa
Private equity fund Cvc Capital Partners is preparing its takeover bid for pharmaceutical group Recordati. According to rumours, the British group, already a shareholder in the pharmaceutical company, has sent a letter to Recordati's board of directors announcing the operation, following due diligence. The offer, again according to rumours, would be made in alliance with other funds. Cvc currently already holds control (46.82%) of Recordati through the holding company Rossini, of which the current chairman Andrea Recordati is also a shareholder. Cvc, contacted, did not comment on the rumours. The company, contacted, also did not comment on the rumours.
CVC Capital Partners acquired a majority stake in the Italia pharmaceutical group in 2018 for around EUR 3 billion.
Several transactions had been studied in the past, but all were shelved: the attempt that came closest, however, was a possible merger between Recordati and the Roman group Angelini Pharma a year and a half ago.
