Recordati and its top investor say no plans for deal with Angelini (updated)
17/01/2025 15:13
(Adds details, background)
MILAN, Jan 17 (Reuters) - Recordati RECI.MI and its
top shareholder CVC Capital Partners on Friday denied any plans
to combine the Italian drugmaker with smaller rival Angelini
Pharma.
"CVC Capital Partners... is not contemplating a transaction
with Angelini Pharma or its shareholders," CVC said in a joint
statement with Recordati.
The private equity firm and the drugmaker said there were no
contacts with Angelini, adding they did "not envisage any
dialogue taking place in the future with either the management
or the shareholders of Angelini Pharma."
The comments came after reports in the Italian press
this week about a potential tie-up between the two drug firms.
On Friday, Italian daily Il Sole 24 Ore said that the family
that owns Angelini Pharma could transfer its pharmaceutical
business into a new company and then merge that with rival
Recordati. The paper said both sovereign and pension funds had
been sounded out about a potential co-investment in the venture.
In November, following an earlier report about the
potential tie-up, Angelini Pharma
declined to comment
on its possible interest for Recordati, adding it "always
looks at all market opportunities."
Recordati has a market capitalization of more than 11
billion euros.
(Reporting by Elvira Pollina and Elisa Anzolin, editing by
Giulia Segreti and Valentina Za)
((elvira.pollina@thomsonreuters.com;))