Nycomed: Avista's €125 million investment to fund Altana acquisition

By Lisa Kerner

Charlotte, N.C., Oct. 10 - Private equity firm Avista Capital Partners said it will purchase up to €125 million worth of Nycomed A/S common stock.

Avista's investment will help fund the Roskilde, Denmark, pharmaceutical company's €4.2 billion acquisition of Altana Pharma AG.

"Having worked closely with Nycomed since 2002, we have tremendous confidence in management's ability to leverage its acquisition of Altana and grow Nycomed into a Pan-European pharmaceutical company with the potential to be the in-licensing partner of choice in Europe," Avista co-managing partner Thompson Dean said in a news release.

Altana Pharma is the pharmaceutical business of Altana AG, based in Konstanz, Germany.

Avista has offices in New York and Houston.

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