German economic-financial daily Handelsblatt yesterday reported that Germany-based generics producer Stada has been shortlisted to make final bids for France-based Upsa, owned by US-based multinational Bristol-Myers Squibb. In addition to Stada, Italy-based Angelini and private equities CVC Capital Partners e PAI Partners have reportedly been shortlisted. The four companies will have time until the end of November to submit their final proposals to BMS.
Upsa has approximately 1,500 employees and last year generated revenues of €425m, with an €100m EBITDA. It could be sold at €1bn (10 x EBITDA), analysts say.