June 29, 2018 / 6:44 PM / 5 months ago

CVC-led group buys 51.8 pct of Italy's Recordati, to launch takeover

MILAN, June 29 (Reuters) - A consortium of investment funds controlled by CVC Capital Partners has agreed to buy 51.8 percent of Italian pharmaceutical group Recordati in a deal worth about 3 billion euros ($3.5 billion).

The consortium will acquire the majority of Recordati from Recordati family financial holding FIMEI at a price of 28 euros per share, FIMEI said in a statement on Friday.

The buyers plan to launch a takeover offer for the Italian company at 28 euros per share when the transaction closes, it said.

$1 = 0.8568 euros Reporting by Francesca Landini Editing by Edmund Blair

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