(Bloomberg) Bain Capital and Cinven have lined up banks to help them weigh options for Stada Arzneimittel AG, including a potential sale of the German drugmaker, people with knowledge of the matter said.Most Read from BloombergWhy a US Recession Is Still Likely — and Coming SoonAirbnb Is Fundamentally Broken, Its CEO Says. He Plans to Fix It.Severe Crash Is Coming for US Office Properties, Investors SayOnce Unthinkable Bond Yields Now the New Normal for MarketsStocks Lose Footing as Treasury
Private equity firm Cinven has agreed to buy back 160 million euros ($170 million) of debt sold by its insurer Eurovita and is open to supporting other measures to avoid a messy liquidation of the Italian company, a person with knowledge of the situation told Reuters. Cinven this month signed an accord with GIC, Singapore's sovereign fund, and another two investors to purchase from them 140 million euros of Tier2 Eurovita bonds, the source added. GIC and Eurovita had no immediate comment.
Hotelbeds is interviewing banks to lead the sale of more than 1 billion euros ($1.07 billion) of shares in an initial public offering (IPO) next year, people familiar with the matter told Reuters. The Spanish travel technology firm, advised by Evercore, is poised to appoint a couple of banks as global coordinators alongside Morgan Stanley after recently inviting pitches, said the people, who spoke on the condition of anonymity. The company and its shareholders – which include private equity fund
The Competition Appeal Tribunal has unanimously upheld the CMA’s decision condemning a pharmaceutical supplier for excessive pricing of medicines sold to the NHS.
Cinven and CPPIB, which bought Hotelbeds from German tourism group TUI in 2016 in a deal worth €1.17-billion, could opt for a direct sale, the Expansion newspaper reported