No luck for Mundipharma in attempted China unit sale
Mundipharma International has failed to find a buyer for its Chinese unit after its latest attempt at selling it, according to Reuters.
Citing unnamed sources, the report says that Mundipharma has not achieved its aim to divest the business for a second time, having hoped to raise more than $1 billion from the sale.
One source reportedly said that the valuation that Mundipharma was targeting was too high for an interested buyer, whose identity is not known. German investment bank Deutsche Bank was hired to run the process.
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