MILAN (Reuters) - An investment by NB Renaissance in Neopharmed that will see the private equity firm share with Ardian majority ownership of the Italian pharmaceutical group values the latter at 1.4-1.5 billion euros ($1.4-$1.5 billion), two people close to the deal said.
NB Renaissance, which has a track record in Italy's pharmaceutical sector having invested in the past in Bologna-based AlfaSigma, won a beauty contest to partner with Ardian and Neopharmed's original shareholders, the Del Bono family.
NB Renaissance was advised by JPMorgan (NYSE:JPM).
A vehicle owned in equal parts by Ardian and NB Renaissance will hold a majority stake in Neopharmed, while Alessandro Del Bono and the family's holding company Mediolanum Farmaceutici will retain a stake in the group.
Over the past four years Ardian has helped Neopharmed complete six M&A transactions and grow its revenues to 250 million euros.
It will now sell its stake to the vehicle and reinvest through its latest buyout fund to acquire half of the vehicle itself.
Neopharmed Gentili controls one of the largest networks of pharma representatives in Italy and specialises in cardiovascular and neurological therapies.($1 = 0.9955 euros)