PAG eyes minority stake in RK Pharma; EQT looking to exit Ottobock

S&P Global Market Intelligence presents In Play Today, a periodic summary of potential private equity deal activity, including rumored transactions. This summary is based on information obtained on a best-efforts basis and may not be inclusive of all potential deal activity.

– PAG intends to purchase a substantial minority interest in RK Pharma Inc., which manufactures generic drugs, Mint reported, citing people familiar with the deal. The approximately $200 million deal reportedly will include secondary share sales and primary funding for business expansion and will see Signet Healthcare Partners exiting RK Pharma. PAG will have the option to expand its stake in RK Pharma at a later stage, according to one of the sources. Citadel Management and EY are serving as advisers to the transaction.

– Ottobock SE & Co. KGaA started the sale process for a 30% stake in the medical technology company, German paper Frankfurter Allgemeine Zeitung (FAZ) reported. EQT AB (publ) will sell 20% shares of Ottobock and will exit the company, while Hans Georg Naeder will divest the remaining 10% stake. JP Morgan sent information memoranda to prospective buyers, according to the report.

– Thyssenkrupp AG advanced the sale process for its submarine business ThyssenKrupp Marine Systems AG, and several financial investors including The Carlyle Group Inc. and KKR & Co. Inc. are interested in a deal, FAZ reported.

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