CVC Capital Partners VII, LP managed by CVC Capital Partners Limited completed the acquisition of an unknown stake in Recordati Industria Chimica e Farmaceutica S.p.A..

CVC Capital Partners VII, LP managed by CVC Capital Partners Limited made an offer to acquire 45.7% stake in Recordati Industria Chimica e Farmaceutica S.p.A. (BIT:REC) for €2.6 billion on December 6, 2018. As part of consideration, €27.55 per share will be paid. CVC Capital Partners indirectly holds 51.8% stake in Recordati Industria Chimica. The transaction will be financed with up to a maximum of €1.1 billion from capital payments made to the buyer, up to a maximum of €1.49 billion from the proceeds of the senior secured bridge facilities and up to a maximum of €615 million with proceeds from senior unsecured bridge facilities. CVC Capital Partners has not finalized about the delisting of Recordati Industria Chimica, but reserves right to decide whether to restore free float if it reaches threshold between 90% and 95%. The acceptance period for the offer will begin at 8:00 on January 2, 2019 and will end on January 29, 2019. As on December 21, 2018, the Board of Directors of Recordati approved the transaction unanimously. Lazard S.r.l. and Colombo&Associati S.r.l. acted as independent experts and Mediobanca – Banca di Credito Finanziario S.p.A acted as financial advisor to the Board of Directors of Recordati. Galbiati, Sacchi e Associati acted as legal advisor to the Independent Directors of Recordati. Çiftçi,Itir Sevim of Clifford Chance LLP acted as legal advisor to CVC Capital Partners VII, LP managed by CVC Capital Partners Limited. Jefferies LLC acted as financial advisor to Recordati Industria Chimica e Farmaceutica S.p.A. CVC Capital Partners VII, LP managed by CVC Capital Partners Limited completed the acquisition of an unknown stake in Recordati Industria Chimica e Farmaceutica S.p.A. (BIT:REC) on January 29, 2019. CVC directly or indirectly now holds 51.8% stake in Recordati Industria Chimica e Farmaceutica.