Antin, Cinven, CVC, KKR and Permira bid to buy unit of Spain's Rovi, Expansion reports

Antin Infrastructure Partners SAS

26/06/2024 07:38

MADRID, June 26 (Reuters) - Investment funds Antin
 ANTIN.PA , Cinven, CVC  CVC.AS , KKR  KKR.N  and Permira have
filed offers to buy Spanish pharmaceutical company Rovi's
 ROVI.MC  third-party manufacturing business, newspaper
Expansion reported on Wednesday citing unidentified market
sources.
    The five firms filed non-binding bids on June 13 and are now
in the middle of a due diligence process for binding offers, the
newspaper reported.
    Rovi said in March it had hired Lazard as an adviser for a
potential sale of the unit which has produced COVID vaccines on
behalf of Moderna, among other drugs.
    The unit is estimated to be worth about 3.5 billion euros
($3.75 billion), Expansion said.
    Spokespeople for Rovi, Cinven and KKR declined to comment,
while Antin, CVC and Permira did not immediately respond to
requests for comment.
    ($1 = 0.9344 euros)

 (Reporting by Inti Landauro; editing by Jason Neely)
 ((Inti.Landauro@thomsonreuters.com;))