Fund Ardian buys Italys Biofarma, founding family keeps 30% stake – Reuters

MILAN, Jan 17 (Reuters) – European personal equity firm Ardian struck a deal to purchase the majority of Italys Biofarma Group from White Bridge Investments in order to improve further the international development of the drug business, a statement stated on Monday.The Scarpa family, which established the group, will keep a 30% stake in the drug firm and Maurizio Castorina will continue to lead Biofarma as primary executive, it included without supplying financial details of the deal.On Sunday two sources with understanding of the matter told Reuters Ardian had signed the takeover contract for about 1.1 billion euros ($1.26 billion). Canson Capital and Ethica Group were co-Advisors for White Bridge.

Leave a Reply

Your email address will not be published.