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Rovi receives non-binding offers for manufacturing business
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Rovi receives non-binding offers for manufacturing business
Jun 26, 2024 5:56 AM

MADRID, June 26 (Reuters) - Rovi has received

non-binding offers for its third-party manufacturing business,

the Spanish pharmaceuticals firm said on Wednesday, without

disclosing the names of the bidders.

No final decision has been made regarding the potential

sale, Rovi said in a filing to the stock market regulator.

Investment funds Antin, Cinven, CVC, KKR

and Permira have filed bids, newspaper Expansion

reported earlier on Wednesday.

The five firms filed non-binding bids on June 13 and are now

in the middle of a due diligence process for binding offers, the

newspaper reported.

Spokespeople for Cinven and KKR declined to comment, while

Antin, CVC and Permira did not immediately respond to requests

for comment.

Rovi said in March it had hired Lazard ( LAZ ) as an adviser

for a potential sale of a business which has produced COVID-19

vaccines on behalf of Moderna ( MRNA ), among other drugs.

It is estimated to be worth about 3.5 billion euros ($3.75

billion), Expansion said.

($1 = 0.9344 euros)

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