CDP realises its equity investment in Kedrion
Press release

CDP realises its equity investment in Kedrion

In line with the 2022-24 Strategic Plan, this transaction applies the principle of rotation of the capital of the investee companies once the investment objectives have been achieved 

Rome, 20 January 2022 – The Boards of Directors of Cassa Depositi e Prestiti (CDP) and its subsidiary CDP Equity (CDPE) have approved the sale of the 25.06% equity investment, held through the vehicle Fsi Investimenti, in the capital of the Italian pharmaceutical group Kedrion.

The stake has been acquired by the Permira funds, supported by the Abu Dhabi Investment Authority, as part of the sale by the current shareholders of 100% of the company, which is engaged in research, development, production and distribution of plasma-derived drugs.

For CDP, the transaction is in line with the 2022-24 Strategic Plan (approved on 25 November 2021) and, in particular, with the principle of capital rotation, i.e. the evaluation of potential options for streamlining the existing equity investment portfolio once the objectives of the investment have been achieved, also with a view to using the capital made available to support new initiatives. 

The sale of the equity investment provides a significant appreciation and return on investment for CDP and represents a further development opportunity for Kedrion on the international markets. Permira is committed to supporting Kedrion’s industrial development with investments to be allocated to production and R&D in Italy.

In addition, within a clearly defined timeframe, CDP’s Board of Directors will consider whether to exercise CDPE’s option to reinvest in the share capital and thus acquire an equity investment in the new pan-European player that will be created through the merger of Kedrion and the British group Bpl, which is subject to a simultaneous acquisition and business combination with the Italian company.

In the 10 years that CDP Equity has been a shareholder, the company has doubled its consolidated turnover, increased its revenues on the international markets from 46% to 78%, and substantially expanded its workforce.

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