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Buyout firm Advent makes approach for Stada, rivalling Cinven-source
February 13, 2017 / 1:18 PM / 6 months ago

Buyout firm Advent makes approach for Stada, rivalling Cinven-source

FRANKFURT, Feb 13 (Reuters) - Private equity firm Advent International has approached Stada, expressing in writing its interest in a takeover of the German generic drugmaker, a person familiar with the matter told Reuters on Monday.

The prospect of a bidding war earlier on Monday drove shares in Stada higher after it said it was weighing two takeover approaches, including one from private equity firm Cinven Partners which valued it at almost 3.5 billion euros ($3.7 billion).

Stada and Advent declined to comment.

Writing by Ludwig Burger; Editing by Kathrin Jones

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