BC Partners is close to finalising a deal to sell Dutch generic drugmaker Synthon International Holding BV to Goldman Sachs Asset Management (GSAM), according to a report by BNN Bloomberg.
Sources familiar with the matter have said GSAM has emerged as the leading bidder for Synthon after outperforming other potential buyers. The deal is expected to value Synthon at approximately €2bn ($2.1bn), with BC Partners likely retaining a minority stake.
An official announcement could come within days, although final negotiations remain ongoing and could still face delays or fall through, the sources said.
BC Partners acquired a majority stake in Synthon in 2019 for $750m from the company’s founder, who retained a minority shareholding.
Over the past 18 months, BC Partners has generated €11bn in asset sales, Chief Operating Officer Fahim Ahmed said last week.
Recent divestments include selling its controlling stake in Canadian security services provider GardaWorld, floating publisher Springer Nature in Germany, selling Italian frozen bakery producer Forno d’Asolo, and offloading a stake in IMA Industria Macchine Automatiche to US merchant bank BDT & MSD Partners.
To support the potential Synthon sale, both banks and direct lenders are competing to provide up to €1bn in debt financing.
Representatives for BC Partners and GSAM declined to comment.
Founded in 1991, Synthon International specialises in the development and manufacturing of generic drugs in therapeutic areas such as oncology, central nervous system disorders, and cardiovascular diseases.
The Netherlands-based company has offices in countries including Argentina, Chile, the Czech Republic, South Korea, Mexico, and Spain.
