Cinven To Pay HgCapital £465 Million For Drugmaker Mercury

Law360, New York (August 17, 2012, 6:02 PM EDT) -- Private equity firm Cinven will pay fellow British investment house HgCapital £465 million (US$730 million) for Mercury Pharma Group Ltd., giving the buyer a niche drugmaker it hopes to use as a springboard for future acquisitions in the health care sector, the parties announced Friday.

The deal gives Cinven a portfolio company that last year posted sales of more than £100 million, as well as Mercury's Surrey, England, headquarters and operational bases in the U.K., Ireland and India, according to parallel statements from the companies....
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