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Private equity-backed takeovers subject to EU Competition law

Nycomed

Nordic Capital has entered into a definitive agreement to sell Nycomed, the European market-driven pharmaceutical company, to a company owned by CSFB Private Equity, Blackstone Capital Partners and NIB Capital Private Equity NV. The transaction is subject to the approval of competition authorities. The price has not been disclosed.

Nordic Capital has signed an agreement to sell Nycomed Holding A/S to a newly established company owned by CSFB Private Equity, Blackstone Capital Partners and NIB Capital Private Equity.

Nordic Capital acquired a majority of the shares in Nycomed from Amersham plc in May 1999, and then acquired Amersham’s remaining shareholding in August 2001.

Between 1999 and 2001 Nycomed has shown sustained revenue growth of in excess of 15 per cent annually, adjusted for terminated or divested businesses. EBITDA (earnings before interest, taxes, depreciations and amortisation) from the underlying operations has grown more than 25 per cent on a yearly basis.

Hkan Bjrklund will continue as CEO of Nycomed Holding. Goldman Sachs International acted as exclusive financial advisor to Nordic Capital and the other sellers in this transaction. Credit Suisse First Boston acted as financial advisor to CSFB Private Equity.