Funding & Business
CapVest Nears €10 Billion Deal for Drugmaker Stada
CapVest Partners is nearing a deal to acquire Stada Arzneimittel AG for around €10 billion ($11.7 billion) including debt, potentially ending the long-running saga to sell the German drugmaker, according to people familiar with the matter.
The London-based buyout firm is finalizing terms of an agreement with Stada’s private equity owners Bain Capital and Cinven, the people said. They could announce a deal as soon as Monday if there aren’t any last-minute hiccups, according to the people, who asked not to be identified because the information is private.
Asia’s manufacturing activity split across the region’s various hubs with Indonesia and Thailand powering ahead while South Korea and Japan cooled as tariffs weighed on output.
In Indonesia, output and new orders increased for the first time in five months and production in Thailand rose at the fastest pace in 13 months, according to S&P Global data published Monday. Overall activity in South Korea, Japan and Taiwan remained below the 50-mark that is the midpoint between expansion and contraction.
One of Japan’s biggest pension funds has slashed its holdings of actively invested funds while its top management pledged to tighten scrutiny of asset managers’ performance.
Tokyo-based Federation of National Public Service Personnel Mutual Aid Associations, which manages about ¥10 trillion ($68 billion) in assets, exited 10 out of the 27 active funds it invested in, in the year ended March. Active funds aim to beat market benchmarks, while passive funds are designed to mirror index moves.
Prime Minister Narendra Modi met Chinese President Xi Jinping to reset relations and strengthen ties, with both sides pledging to be partners, not rivals. (Source: Bloomberg)
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