Wellington exits Actelion

The Munich venture capitalist sells its DM53.5m stake in the Swiss biotech firm after two years. Morgan Stanley placed the shares with institutional investors.

Wellington Partners has sold its stake in Swiss biotech firm Actelion for E414.5 a share. The total value of the deal is E27.35m.

Wellington says the deal means it has “kept to its schedule”. Wellington first invested in Actelion in March 1999. The deal is the Wellington Partners 1 fund’s tenth exit in three years.

Morgan Stanley Dean Witter placed the E27.35m of shares in Actelion with institutional investors. Actelion’s shares dipped 0.63 per cent this morning from yesterday’s close.

The Wellington Partners 1 fund originally received investment totalling E27.1m, which Wellington says has grown to E81.8m. It says it has already returned E143.2m in cash to investors.