MILAN, January 23 (Reuters) - The negotiations for the entry of a financial investor in the capital of the pharmaceutical group Rottapharm-Madaus are in the stand-by phase.
This is what various sources close to the matter report, adding that the process takes quite a long time.
Last week, some press organs reported an acceleration of negotiations between the Rovati family, which owns the pharmaceutical company, and Avista Capital Partners, a US private equity operator specializing in the sector.
The process, however, is not in the pipeline, but "it's long," says one of the sources. Another speaks of a "pause" and a third of a "phase of reflection".
Today, a weekly dedicated an article to the Rottapharm deal, reporting a statement by Luca Rovati, vice president and managing director of Rottapharm: "We are looking for a financial partner who will support us in our development strategy on international markets and in the processes of acquisitions aimed at increasing our market share in the segments relevant to us", it reads, "also considering our firm intention to list the company on the Stock Exchange in the near future. However, it remains very clear", concludes Rovati, " that if we do not find full satisfaction in any of the partners with whom we are engaged in discussions today, we will not proceed with any transaction."
Rovati's last sentence certifies that the process is not in the final rush; as one of the sources puts it, "it's not going fast."
On December 14, some sources close to the situation told Reuters that Advent International, Carlyle and Avista would be contending for a significant stake in Rotta's capital
