Luxembourg-based private equity firm CVC Capital Partners (CVC Capital Partners Limited) has appointed two US banks to help it in the process of studying strategic alternatives for its controlling stake in Italian drug maker Recordati Industria Chimica e Farmaceutica S.p.A. (BIT:REC), Reuters reported on May 8, 2024 citing sources. JP Morgan Chase & Co and Goldman Sachs Group Inc. will allegedly advise CVC. The potential options being considered include selling the company, merging it with another healthcare entity, or forming what is known as a continuation fund, according to the people.

CVC, which holds a 51.8% stake in the Milan-based firm, has been a shareholder in Recordati since 2018 when it bought a controlling stake from the founding family via a EUR-3-billion (USD 3.22 billion) deal.