According to the report, negotiations are taking place with the financial investor GTCR from Chicago. However, there are different ideas about the assessment, Bloomberg quotes people informed about it. Bain and Cinven initially paid a total of 5.3 billion euros in 2017, but mostly through debt.
The management had reorganized the generics company and expanded it through acquisitions. In 2023, for example, double-digit sales and profit growth was recorded. In addition, the Russian business was separated so that it could be continued separately or sold.
According to the report, the two private equity owners are now putting pressure on; They want to expand the banking consortium for a possible IPO of the generic drug manufacturer. As Bloomberg has learned from informed sources, Bain Capital and Cinven have invited banks to apply for additional tasks, such as bookrunners for an IPO of Stada.
Decisions are still pending and it is unclear whether Bain and Cinven will decide to sell or IPO Stada. Spokespeople for Bain, Cinven and GTCR declined to comment.
Last October, Bloomberg reported that Bain and Cinven had selected Jefferies Financial Group, JPMorgan and Morgan Stanley, as well as Rothschild to help explore their exit options.
The investors initially acquired around two-thirds of the shares in August 2017 for around 5.3 billion euros; In advance, activist investors around the hedge fund AOC had put massive pressure on the board around Hartmut Retzlaff. The purchase price for the remaining shareholders was later significantly improved, so that the group could be taken off the stock exchange a year later. The Federal Court of Justice (BGH) recently ruled that shareholders who agreed to the first offer also have a right to the final compensation offer.
The group goes back to the “Association of Dresden Pharmacists” founded in 1895, in which pharmacists initially developed new ideas for production in pharmacies. The production of our own finished medicines was later added. In 1970 the cooperative became a stock corporation. The share certificates were initially issued exclusively to pharmacists and doctors. The shares have been traded on the stock exchange since 1997.
