German Drugmaker Riemser Said to Draw Private Equity Bids

Riemser Arzneimittel AG, one of eastern Germany’s largest drugmakers, is drawing interest from buyout firms including Warburg Pincus LLC, Montagu Private Equity LLP and Triton Advisers UK Ltd., according to people familiar with the process.

The company, based on the island of Riems, near Greifswald, may fetch as much as 300 million euros ($379 million), said the people, who declined to be identified because the talks are private. Jefferies Group Inc., which is running the sale, may select a shortlist of bidders by the end of the month, said the people.

Riemser Chief Executive Officer Michael Mehler confirmed that the drugmaker is talks with a “selected group” of private equity and strategic investors, without providing further details. He declined to comment on the timing or the price of a potential deal.

Riemser, which is owned by the Braun family, GE Healthcare Financial Services and TVM Capital, employs more than 600 people, has sales of more than 115 million euros, and exports to more than 72 countries, according to its website. It focuses on oncology, dermatology, dental products and anti-infectives.

Warburg and Montagu declined to comment. A representative of Triton was not immediately available for comment.

To contact the reporters on this story: Patricia Kuo in London at pkuo2@bloomberg.net; Aaron Kirchfeld in Frankfurt at akirchfeld@bloomberg.net; Naomi Kresge in Berlin at nkresge@bloomberg.net

To contact the editors responsible for this story: Jacqueline Simmons at jackiem@bloomberg.net; Faris Khan at fkhan33@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.