May 24, 2017 / 5:08 PM / 2 months ago

Rival investor group not making counter bid for Stada -sources

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FRANKFURT, May 24 (Reuters) - Private equity firms Advent and Permira are not planning to tie up with Shanghai Pharmaceuticals to make a counter bid for German generics drugmaker Stada Arzneimittel, three people familiar with the matter told Reuters on Wednesday.

Buyout groups Bain Capital and Cinven last month won an auction for Stada with a bid valuing the group at about 5.3 billion euros ($5.9 billion), beating Advent and Permira.

Talks among Advent, Permira and Shanghai Pharmaceuticals, which earlier this month said it may make an offer for Stada, failed because no agreement could be reached over price, the people said.

Stada, Advent and Permira declined to comment. Shanghai Pharmaceuticals was not immediately available for comment. ($1 = 0.8945 euros) (Reporting by Alexander Huebner and Pamela Barbaglia; Additional reporting by Arno Schuetze; Writing by Christoph Steitz; Editing by Elaine Hardcastle)

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