Home / Business and Economy / CVC & GBL Take Italian Drugmaker Recordati Private
CVC & GBL Take Italian Drugmaker Recordati Private
6 Jun
Summary
- CVC and GBL financing secured for Recordati's delisting.
- Recordati's buyout values the Italian drugmaker over $12 billion.
- Groupe Bruxelles Lambert backs CVC's offer to acquire Recordati.
CVC Capital Partners Plc and Groupe Bruxelles Lambert (GBL) have announced the successful completion of their offer to delist Recordati SpA from Euronext Milan. The transaction, which values the Italian pharmaceutical company at over $12 billion, has seen both CVC and GBL secure fully committed financing. Groupe Bruxelles Lambert has formally agreed to back CVC's bid, a crucial step in the acquisition process.
This move signifies a major shift for Recordati, transitioning from a publicly traded entity on the Milan stock exchange to private ownership under CVC and GBL. The completion of due diligence by both investment firms underscores their commitment to finalizing the deal. Investors and industry observers will be watching closely as the delisting process unfolds, marking a new era for Recordati's operations and strategic direction.
