LONDON Aug 17 Investor HgCapital has sold
British pharmaceutical company Mercury Pharma to private equity
firm Cinven for 465 million pounds ($732 million).
"The realisation of Mercury Pharma marks the continued
development of HgCapital's investment focus in the healthcare
sector," said HgCapital's head of healthcare, Philipp Schwalber,
in a statement on Friday.
"We continue to seek out businesses that enjoy niches of
secular growth despite the challenges facing much of the
healthcare space," he said.
HgCapital bought the 25-year-old pharmaceutical firm, which
sells niche prescription off-patent products in the UK, Ireland
and the Netherlands, in 2009.
It said its listed investment trust HgCapital Trust
expects to receive 35.4 million pounds in cash on the sale
completion and further potential proceeds of 1 million pounds
over the next 30 months.