CVC Capital Partners Seeks Co-Investors for €10.9 Billion Recordati Takeover Bid

A. 7 billion. People familiar with the matter disclosed that CVC aims to share the financial burden of the acquisition. Recordati, based in Milan, focuses on developing and marketing pharmaceuticals for rare diseases, including primary aldosteronism and orphan indications.

3 billion in 2023, with operations in over 100 countries. CVC's interest stems from Recordati's established portfolio and growth potential in specialty therapeutics.

Proposed Deal CVC launched its takeover bid for Recordati in July 2024, offering €53 per share to acquire the remaining stake it does not already own.

Recordati's board has engaged with the proposal, conducting due diligence as required under Italian regulations. The transaction requires approval from Recordati shareholders and antitrust authorities in relevant jurisdictions. The search for co-investors reflects standard practice in large private equity deals, where syndication helps distribute risk and capital.

Potential partners could include other private equity firms, sovereign wealth funds, or institutional investors. As of now, no specific co-investors have been identified publicly.

acquisition would mark one of the largest in the European pharmaceutical sector this year.

U.S. subsidiary Leadiant Biosciences. Employees, numbering around 4,500 worldwide, may face integration processes typical of such mergers. Regulatory scrutiny is expected, particularly from the European Commission and Italian competition authorities, given Recordati's market position in niche therapies.

If approved, the takeover could close by the end of 2025. CVC has not commented officially on the co-investment efforts.