Pharma company Recordati stock posted a 6.81% jump yesterday at Milan Stock Exchange to 32.16 euro per share after rumors about talks with potential acquirors. Such rumors came on the market a first time when chairman Giovanni Recordati passed away in 2016. Back then Chinese industrial groups were said to be interested in buying Recordati, while yesterday Reuters wrote about talks between the Recordati family and private equity firm CVC Capital Partners. Talks were however put on hold just before the March Italian political elections and are still in stand-by.
The Recordati today controls a 51% stake in the pharma group through their hoding Fimei, The group is led by ceo Andrea Recordati and chaired by Alberto Recordati. CVC in Italy already owns control of DOC Generici in the pharma sector which was previously owned by Charterhouse (si veda altro articolo di BeBeez).
Recordati today has a 6.3 billion euros market cap and is said to be valued about 8 billion euros by CVC. The group reache 366.5 million euros in revenues in Q1 2018, with 134.4 millions in ebitda and a 484.6 million euros of net financial debt, up from 381.8 millions at the end of December 2017 due to a share buyback (see here the press release).
The group had reached 1.288 billion euros in revenues in FY 2017, with 454.7 millions in ebitda (see here the FY 2017 results presentation).