CVC Capital Partners, a private equity firm, and Groupe Bruxelles Lambert (GBL), a Belgian investment holding company, have made an offer to acquire Recordati, a Milan, Italy-based bio/pharmaceutical company, for EUR 10.7 billion ($12.4 billion). 

In late March (March 2026), Recordati confirmed it had received a non-binding indication of interest from CVC Capital Partners concerning a potential voluntary tender offer for all outstanding shares of the company aimed at delisting the company from the Italian stock exchange, Euronext Milan, and taking the company private.   

Recordati has a portfolio of prescription (primary and specialty care) and self-medication treatments across a range of therapeutic areas. The company has recently focused on expanding its rare-diseases portfolio. It also supplies active pharmaceutical ingredients through its chemicals business. 

Closing of the offer is expected over the course of the fourth quarter of 2026, subject to certain closing conditions.  

Source: Recordati