LONDON (Reuters) - European private equity firm Cinven said on Friday it had agreed to buy a majority stake in German laboratory operator synlab.
Cinven did not disclose the size of the transaction in a statement.
Reuters reported on Thursday that Cinven would pay 1.7-1.8 billion euros for synlab, according to three sources familiar with the deal.
The purchase follows Cinven's acquisition in May of French medical diagnostics provider Labco (PA:LABCO) for 1.2 billion euros.
Cinven said the combined businesses would benefit from geographical diversification and would have the strongest medical capabilities in Europe.