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Metric, Davidson Kempner Said to Weigh Turkish Drugmaker Exit

  • Consortium hired two investment banks to sell their stake
  • The investors paid $200 million for the stake in early 2020

A consortium of investors including Metric Capital Partners and Davidson Kempner Capital Management are planning to sell their minority stake in a Turkish drugmaker just over a year after they bought it.

The group has hired two international investment banks to manage the sale, according to people familiar with the matter, who asked not to be identified because the plan is private. The Istanbul-based company, which was formally known as Sanovel Ilac Sanayi ve Ticaret AS, is expected to reach a valuation of close to $1 billion, up from $667 million when the investors bought their stake in January last year, the people said.