Japan's Takeda provides exit for European PE firm
Takeda Pharmaceutical Co, one of the largest pharmaceutical companies in Japan has reportedly planned to take over Zurich-headquartered pharmaceutical maker Nycomed, which is owned by European private equity firm Nordic Capital and Credit Suisse’s private-equity unit.
A report on Bloomberg suggested that the deal could be worth at around $14.2 billion if it materializes. The article further noted that negotiation between the two parties is in an advanced stake and a final deal will be announced soon.
Stockholm-based buyout group Nordic Capital, which has around €7.7bn under management, has first invested in Nycomed in 1999 and has made a second investment in Nycomed in 2005. The company was valued company at €1.8bn, €500m more than its valuation when Nordic Capital sold a stake in 2002 to CSFB Private Equity, Credit Suisse's PE arm.
Cross border acquisitions made by large Japanese pharmaceutical companies are becoming more active as M&A becomes the norm for these companies to grow. Takeda is no exception, having previously acquired U.S. biotech firm Millennium Pharmaceuticals for about $9 billion back in 2008.
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