At a glance
- The original price was €51.29 a share, struck after the €0.71 dividend balance paid on 20 May, equivalent to €52.00 including that dividend.
- CVC is investing through a vehicle of CVC Fund IX and GBL through Black Mountain S.à r.l. The report describes them as co-control investors rather than one leading and one following.
- The offer is conditional on at least 66.67% of the share capital being tendered, plus antitrust, foreign direct investment and foreign subsidies clearances.
Groupe Bruxelles Lambert and CVC raised their joint offer for Recordati to €53 a share and extended the acceptance period to 23 October 2026, familyofficehub.io reported on 8 October.
The original price was €51.29 a share, struck after the €0.71 dividend balance paid on 20 May, equivalent to €52.00 including that dividend. The offer was announced on 22 May through Respighi BidCo, a newly formed Italian company. That price represented a 12.89% premium to Recordati's undisturbed price of 25 March 2026. On those terms the report put the equity value at about €10.7 billion.
CVC is investing through a vehicle of CVC Fund IX and GBL through Black Mountain S.à r.l. The report describes them as co-control investors rather than one leading and one following.
The offer is conditional on at least 66.67% of the share capital being tendered, plus antitrust, foreign direct investment and foreign subsidies clearances. Rossini S.à r.l., ultimately owned by CVC Fund VII, holds 97,912,463 shares, about 46.82% of the capital, and has irrevocably agreed to tender all of them. That leaves roughly 19.85 percentage points of capital for other holders to supply.
Recordati tender: 46.82% committed against a 66.67% threshold
Share of Recordati share capital, %
Show as table
| Label | Value (%) |
|---|---|
| Irrevocably committed (CVC Fund VII) | 46.82% |
| Still to be tendered by other holders | 19.85% |
| Not needed to clear the threshold | 33.33% |
Reported by the Direct & Co-Investments desk from familyofficehub.io. Published . Corrections