Bain, Cinven to sell majority stake in STADA; Altor selling Retta

Deal Wrap is updated as of 3 p.m. ET.

– Bain Capital LP and Cinven Ltd. reached a deal to sell a majority stake in Germany-based STADA Arzneimittel AG, a global healthcare platform focused on consumer healthcare, generic drugs and specialty pharmaceuticals, to CapVest Partners LLP. Bain and Cinven intend to keep a minority stake in STADA. Jefferies and Rothschild & Co are lead M&A advisers on the deal, which is likely to close in the first half of 2026. Morgan Stanley, JP Morgan, Deutsche Bank and Goldman Sachs also advised Bain and Cinven on the transaction. Other advisers included Kirkland & Ellis, EY, BCG, A&M and ERM.

– CVC DIF, CVC Capital Partners PLC's dedicated infrastructure investment strategy, agreed to buy a utility-scale hybrid photovoltaic-battery energy storage system project in northern Chile from Spanish multinational clean energy producer Grenergy Renovables SA. The project, known as Gabriela, is under construction and will have 272 MW of installed solar PV capacity and 1,100 MWh of battery storage. BNP Paribas, Cuatrecasas, KPMG, Valgesta, DNV and Marsh advised CVC DIF on the deal.

– Altor Equity Partners AB's Altor Fund IV AB is selling Retta Oy and Retta AB, which previously comprised the Realia Group, in a deal with private equity buyer Adelis Equity Partners AB. Retta provides business-to-business real estate management and other real estate services in Finland and Sweden.

– Triton-managed funds sold their remaining shares in RENK Group AG, marking the private equity firm's full exit from the Germany-based provider of governmental and industrial drive solutions.

– An affiliate of EQT AB (publ)'s EQT IX fund finalized the sale of its 20 million class B shares in Sweden-based Beijer Ref AB, a global provider of commercial and industrial refrigeration, heating and air conditioning products. The gross proceeds from the sale totaled about 3.1 billion Swedish kronor.

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