Buyout firm Advent International plans to sell a majority stake in U.S.-based Bioduro-Sundia in a deal that could value the drug development and manufacturing outsourcing provider at over $1bn, said three people with knowledge of the matter.
Advent is looking to sell its stake in Bioduro-Sundia at a company valuation of more than 20 times annual earnings before interest, tax, depreciation and amortisation, said the second source. The valuation would be more than $1 billion, that person said.
The seller could be seeking a valuation as high as $1.5 billion, said the third source.
All the sources declined to be identified, because the information was confidential. Advent, Bioduro-Sundia and JPMorgan declined to comment.
Read more: Reuters
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