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Recordati Industria Chimica e Farmaceutica S.p.A. (0KBS.IL)
- 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).
- Reuters
UPDATE 1-CVC explores options for Italy's Recordati, Bloomberg News reports
CVC Capital Partners is exploring options for its controlling stake in Italian pharmaceutical group Recordati SpA, Bloomberg News reported on Tuesday, citing people familiar with the matter. 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.
