Concordia to raise $320 mln to fund buy of PE-backed Covis Pharma
Concordia Healthcare Corp (TSX: CXR) has entered into an agreement with underwriters to raise gross proceeds of up to $368 million through a bought deal financing. The transaction is intended to partially fund the company's proposed purchase of assets held by Switzerland's Covis Pharma Holdings SARL. Earlier this month, Concordia, a Canadian healthcare company focused on legacy pharmaceutical products and orphan drugs, agreed to buy the assets from Covis, which is controlled by U.S. private equity firm Cerberus Capital Management and other investors. The acquisition is valued at US$1.2 billion.
17 March 2015•5 mins read
