May 23 (Bloomberg) -- 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.