(Reuters)
China's Shanghai Fosun Pharmaceutical (600196.SS) is planning a bid for German generic drugmaker Stada, already the center of a 3.6 billion euro ($3.8 billion) takeover battle between two private equity consortia, two people close to the matter said.
China's Shanghai Fosun Pharmaceutical (600196.SS) is planning a bid for German generic drugmaker Stada, already the center of a 3.6 billion euro ($3.8 billion) takeover battle between two private equity consortia, two people close to the matter said.
Fosun Pharma is also holding early-stage talks with buyout funds including CVC about a potential joint bid, but may decide initially to go it alone with a view to taking financial investors on board later, one of the people said.
Fosun Pharma said it currently had no information to disclose. Stada declined to comment.
Stada is expecting to receive so-called confirmatory bids from a consortium comprising Advent and Permira as well as from rivals Bain and Cinven, who have teamed up as well, on Friday. Final bids are due just before Easter, the sources said.
The planned Stada bid is part of Fosun Pharma's overseas expansion plans, after it acquired an Indian drugmaker, Gland Pharma, last year. Fosun Pharma's Chairman Chen Qiyu had said in September that the firm was eyeing investments in other overseas markets.
The company is part of Chinese conglomerate Fosun International (0656.HK), headed by billionaire Guo Guangchang, which has been active in global mergers and acquisitions from property to finance.
Fosun Pharma said it currently had no information to disclose. Stada declined to comment.
Stada is expecting to receive so-called confirmatory bids from a consortium comprising Advent and Permira as well as from rivals Bain and Cinven, who have teamed up as well, on Friday. Final bids are due just before Easter, the sources said.
The planned Stada bid is part of Fosun Pharma's overseas expansion plans, after it acquired an Indian drugmaker, Gland Pharma, last year. Fosun Pharma's Chairman Chen Qiyu had said in September that the firm was eyeing investments in other overseas markets.
The company is part of Chinese conglomerate Fosun International (0656.HK), headed by billionaire Guo Guangchang, which has been active in global mergers and acquisitions from property to finance.
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