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Bidders Line Up Debt Plans as CVC’s Sale of Theramex Progresses

  • Banks and private credit compete to lend up to $880 million
  • Potential bidders include Carlyle, PAI, ICG, and KKR

Bidders are preparing debt financings totaling up to 800 million euros ($880 million) to back a potential acquisition of women’s health business Theramex, people close to the matter said, as the sale process progresses and attracts a number of potential buyers. 

CVC Capital Partners acquired the business from Teva Pharmaceuticals in 2017 and is now exploring a sale, hiring Rothschild & Co. and HSBC to manage the process, which could fetch more than $1 billion. The business has attracted the attention of private equity firms such as Carlyle, ICG, KKR and PAI Partners and second-round bids were due this week, the people said, asking not to be identified because the talks are private.