CVC in talks to buy stake in Rovi’s manufacturing business, Health News, ET HealthWorld

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CVC in talks to buy stake in Rovi’s manufacturing business, Health News, ET HealthWorld

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Madrid: Investment fund CVC is in talks to buy a majority stake in Spanish pharmaceuticals firm Rovi’s third-party manufacturing business, Expansion newspaper reported on Tuesday, citing unidentified market sources.

CVC is the only bidder left for the stake in the unit, which is worth more than 3 billion euros ($3.31 billion), after other potential investors who had filed non-binding offers withdrew from the process, the newspaper said.

Spokespeople at Rovi and CVC did not immediately respond to requests for comment.

Rovi said in June it had received several non-biding offers for a business which has produced COVID-19 vaccines on behalf of Moderna, among other drugs.

($1 = 0.9060 euros) (Reporting by Inti Landauro; editing by Jason Neely)]

• Published On Sep 10, 2024 at 04:15 PM IST

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