(Reuters) -Czech generic drugmaker Zentiva said on Thursday that private equity group Advent International had agreed to sell the company to rival GTCR for an undisclosed value. The Financial Times
Advent International to Divest Zentiva to GTCR for Over €4 Billion
Overview of the Zentiva Acquisition
(Reuters) - Czech generic drugmaker Zentiva said on Thursday that private equity group Advent International had agreed to sell the company to rival GTCR for an undisclosed value.
Details of the Deal
The deal values the Prague-based company at slightly more than 4 billion euros ($4.69 billion) including debt, according to a source with knowledge of the deal.
Background on Zentiva
The Financial Times had first reported the deal on Wednesday, saying it was worth 4.1 billion euros.
Market Implications
Zentiva was acquired by Advent from French pharmaceutical giant Sanofi in 2018 for an enterprise value of 1.9 billion euros.
There have been reports of Advent mulling a sale of the generics drugmaker since 2021, with companies such as Polish drugmaker Polpharma and India's Aurobindo Pharma reported to be joining the race.
Zentiva supplies a wide range of generic and over-the-counter drugs such as paracetamol and co-codamol to more than 100 million people across Europe.
($1 = 0.8530 euros)
(Reporting by Unnamalai L in Bengaluru and Andres Gonzalez Estebaran; Editing by Maju Samuel)
