Ergon Capital Said to Be Close to Sale of Zellbios

Ergon Capital Partners SA is close to selling steroid-maker Zellbios in a transaction valuing the Luxembourg-based company at almost 200 million euros ($271 million), people familiar with the matter said.

Ergon, based in Brussels, hired Jefferies Group LLC to manage the sale, the people said, asking not to be identified because the talks are private. Equistone Partners Europe is the frontrunner to buy Zellbios and a sale may be finalized within weeks, one of the people said.

Zellbios was formed by a merger between Farmabios and Pharmazell, two makers of active pharmaceutical ingredients, in 2011. The company has annual sales of 118 million euros and factories in Italy, Germany and India, according to the Ergon website. As well as steroids, Zellbios makes antineoplastics, used to inhibit the growth and spread of cancerous cells.

Representatives for Ergon, Equistone, Jefferies and Zellbios’s Pharmazell unit declined to comment.

To contact the reporters on this story: Andrew Noel in London at; Sheenagh Matthews in Frankfurt at; Kiel Porter in London at

To contact the editor responsible for this story: Simon Thiel at

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