FRANKFURT (Reuters) - Buyout groups Bain and Cinven, which last year took control of German generic drugmaker Stada STAGn.DE, said on Monday they planned to buy the remainder of the shares at a higher price and delist the company.
The private equity groups said they expect to pay about 81.83 euros ($94.92) a share, adding that a minority shareholder with a 12 percent stake in Stada had voiced irrevocable support of the offer.
Bain and Cinven’s vehicle Nidda Healthcare did not name the shareholder, but the only investor with a shareholding of more than 10 percent is activist investor Elliott, according to ThomsonReuters data.
Elliott declined to comment.
In September 2017, Bain Capital and Cinven had offered to buy Stada shares at a marked-up 74.40 euros per share to get control of the German generic drugmaker, giving in to pressure from Elliott.
Those purchases were executed in spring 2018.
(This story corrects timing of deal in last paragraph.)
Reporting by Arno Schuetze; Editing by Michelle Martin