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Stada, Angelini among final bidders for $1 billion Bristol-Myers' Upsa unit - sources

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Stada, Angelini among final bidders for $1 billion Bristol-Myers' Upsa unit - sources

Stada, Angelini among final bidders for $1 billion Bristol-Myers' Upsa unit - sources
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Ralph Orlowski(Reuters)
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By Arno Schuetze and Pamela Barbaglia

FRANKFURT/LONDON (Reuters) - German drugmaker Stada <STAGn.DE> and Italian healthcare company Angelini are the only industry players to be shortlisted to make final bids for Bristol-Myers Squibb's <BMY.N> French over-the-counter drugs business, four sources close to the deal said.

Two private equity firms, CVC Capital Partners and PAI Partners, have also made it through to the final round of the auction for Upsa, the maker of Dafalgan and Efferalgan painkillers, the sources told Reuters.

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The sale, which is handled by Jefferies and Deutsche Bank, is worth about 1 billion euros (839.95 million pounds).

Bristol-Myers Squibb (BMS) has given bidders a deadline of late November to submit their final proposals, the sources said.

BMS, Stada and CVC declined to comment while Angelini and PAI were not immediately available for comment.

(Reporting by Arno Schuetze in Frankfurt and Pamela Barbaglia in London; Additional reporting by Stephen Jewkes in Milan and Matthias Blamont in Paris; Editing by Edmund Blair)

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