Redcliffe Partners has advised CVC Capital Partners on its acquisition of Recordati S.p.A. from the shareholders of FIMEI. Pedersoli Studio Legale advised FIMEI on the sale.
Clifford Chance acted as global legal counsel to CVC and Redcliffe Partners advised on obtaining merger clearance from the Ukrainian competition authority.
FIMEI owns approximately 51.8% of the shares of Recordati S.p.A.
The transaction value is approximately EUR 3 billion, implying a price of EUR 28 per Recordati S.p.A. share. The consideration will be payable as approximately EUR 2.3 billion in cash and EUR 750 million in subordinated long-term debt securities.
CVC is a private equity company with 24 offices across the globe. According to Redcliffe Partners, through its expertise and global healthcare network CVC will expand Recordati’s rare disease business and accelerate its growth strategy as a leading global company in the pharmaceutical industry.
Recordati is an international pharmaceutical group, dedicated to research, development, manufacturing, and marketing of pharmaceuticals. The Recordati Group offers a wide range of innovative pharmaceuticals in a number of therapeutic areas including a specialized segment dedicated to treatments for rare diseases.
Redcliffe’s team consisted of Counsel Anastasia Usova, Senior Associate Nataliya Kovalyova, and Associate Tetyana Smurova.