MILAN, Nov 9 (Reuters) – Private equity firm CVC and Belgian investment group GBL secured more than 90% of Italian pharmaceutical group Recordati at the end of the takeover offer period, a regulatory filing showed on Monday, paving the way for the delisting of the company. • The additional shares tendered on Monday took the […]
Health
CVC, GBL secure over 90% of Recordati, clear path to delisting
Audio By Carbonatix
MILAN, Nov 9 (Reuters) – Private equity firm CVC and Belgian investment group GBL secured more than 90% of Italian pharmaceutical group Recordati at the end of the takeover offer period, a regulatory filing showed on Monday, paving the way for the delisting of the company.
• The additional shares tendered on Monday took the consortium’s holding above the 90% threshold required to delist the €11 billion ($12.32 billion) drugmaker
• The offer closed at 1630 GMT on Monday
• CVC and GBL offered €53 per share
• Following the close of the offer, the consortium’s holding rose to 91.9%, according to Reuters calculations based on Borsa Italiana data
• The figure does not include any shares acquired on the market by CVC or GBL on Monday
($1 = 0.8926 euros)
(Reporting by Elisa Anzolin and Giulio PiovaccariEditing by Tomasz Janowski)