Volga | Finance, business | Industry, manufacturing
U.S. investors buy one of Nizhny Novgorodís pioneering venture assets
14 Apr '17
Nizhpharm, a sizable Russian pharmaceutical factory based in Nizhny Novgorod, now part of Germanyís Stada Arzneimittel AG, will be sold with its parent company to two U.S.-based investment companies, Bain Capital and Cinven, Delovoy Kvartal reported.
Stadaís board of directors and supervision board are reported to have agreed to accept the buyersí proposal to acquire 100% of the German pharma group at a price of 66 euros per share. Bain Capital and Cinven later confirmed their intention to purchase 100% of the group at the price indicated, the source underscored. The total deal value is estimated at 5,318 billion euros.
Stada Arzneimittel AG is a German pharma group headquartered in Bad Vilbel in the state of Hesse. Itís focused on generic products with active pharmaceutical ingredients.
Nizhpharm is one of Russiaís leading pharmaceutical companies operating in the market for about 90 years now. It joined Stada back in January 2005.
About two decades ago, Nizhpharm was one of the first in the mid-Volga region to receive a sizable investment from the EBRDís Central Russia Regional Venture Fund (CR RVF) which was run at that time by Kendrick White, an American venture capitalist, now the founder and CEO of Marchmont Capital Partners.