CapVest cans Curium sale as carnage hits M&A

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By Owen Sanderson
18 Mar 2020

CapVest has cancelled the planned sale of Curium Pharma, as market conditions wrecked the investment appetite of the three final round bidders and banks cut financing commitments. It was one of the larger M&A financings slated for syndication in the second quarter, but with the Crossover index now trading over 650bp, compared with close to 200bp when first round bids were due, the three sponsors in the final round would have struggled to get a deal away.

Final round bids were due on March 16, with Bain Capital, CVC, and Nordic Capital in the final round, GlobalCapital understands. The company pulled the sale on March 17, as it became clear that it would not achieve the intended €3bn price mooted when the process began in ...

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