One of the proposal was submitted by private equity group Cinven Partners LLP at an indicative takeover price of Euro 56.00 per Stada share – the cumulative value of which amounts to € 3.5 billion. Stada received the second proposal from Advent International Corporation.
“Both legally non-binding expressions of interest from Cinven Partners LLP and from Advent International Corporation, which the executive board considered for some time, could offer in different ways attractive opportunities in the interest of the company. The executive board has therefore started open-minded talks to allow the interested parties to explain their strategic concepts and evaluate further value-enhancing potential with regards to the potential offer price,” said Stada in a press statement.
Stada Arzneimittel consistently focuses on a multi-pillar strategy of generics and branded products (OTC) with an increasingly international market orientation. The group is the only independent generics producer in Germany. Worldwide, Stada is represented in more than 30 countries with more than 50 subsidiaries. Branded products such as Grippostad and Ladival are among the highest selling in their product categories in Germany. In the financial year 2015, Stada achieved Group sales of € 2,115.1 million, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of € 389.4 million and adjusted net income of € 165.8 million.
Source: Business-Standard