Angelini Pharma Talks Merger with Recordati
Deal News | Nov 27, 2024 | EIN
Italian pharmaceutical companies Angelini Pharma and Recordati are in discussions to potentially merge, as reported by international media. The merger aims to form a significant player in the European market for generic drugs addressing central nervous system disorders, cardiovascular and urological diseases, as well as epilepsy and common colds. Angelini Pharma, based in Rome, Italy, is known for its neurological and epilepsy treatments and over-the-counter painkillers. Recordati, headquartered in Milan, is controlled by British investment firm CVC Capital Partners, which acquired a majority stake in the company in 2018 for 3 billion euros. Recordati's market value increased to 10.8 billion euros in 2024 as its shares rose by 6%. Previous attempts to finalize a deal involving Angelini, KKR, TPG, and Advent International were stalled due to valuation and strategic concerns. CVC Capital Partners is a notable alternative asset management company, headquartered in Jersey, focusing on private equity and other investment sectors.
Sectors
- Pharmaceuticals
- Private Equity
Geography
- Italy – Both Angelini Pharma and Recordati are based in Italy, with their headquarters in Rome and Milan, respectively.
- United Kingdom – CVC Capital Partners, the investment company controlling Recordati, is headquartered in Jersey, UK.
Industry
- Pharmaceuticals – The article involves Angelini Pharma and Recordati, both of which operate in the pharmaceutical sector, focusing on generic and specialized drug manufacturing.
- Private Equity – CVC Capital Partners, a major private equity firm, is a key participant in the potential merger, having a controlling stake in Recordati.
Financials
- 10.8 billion euros – Recordati's market value in 2024.
- 3 billion euros – Amount CVC Capital Partners paid for the 51.8% stake in Recordati in 2018.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Angelini Pharma SpA | Target Company | Company | An Italian pharmaceutical company focused on drug development for neurological diseases and over-the-counter products. |
| Recordati SpA | Target Company | Company | An Italian pharmaceutical company specializing in the production of drugs for various medical conditions, owned by CVC Capital Partners. |
| CVC Capital Partners Plc | Private Equity Firm | Company | A British investment firm managing alternative assets, with a controlling stake in Recordati. |
| KKR & Co. | Potential Bidding Company | Company | A global investment firm that previously considered acquiring Recordati alongside Angelini Pharma. |
| TPG Inc. | Potential Bidding Company | Company | An investment firm involved in discussions with Angelini Pharma for the potential acquisition of Recordati. |
| Advent International | Potential Bidding Company | Company | An investment firm that was part of the consortium exploring the acquisition of Recordati. |