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Report: Cerberus seeking buyers for pharmaceutical company Covis

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Report: Cerberus seeking buyers for pharmaceutical company Covis

Cerberus Capital Management LP is looking to sell private pharmaceutical company Covis Pharma Holdings Sàrl, Bloomberg News reported Oct. 23, citing anonymous sources.

Dutch company Covis manufactures therapies for respiratory, allergy, cardiovascular, gastroenterology and central nervous system diseases.

The New York-based private equity company is working with a financial adviser for the deal, which would be valued at about $800 million.

Other private equity firms have also shown interest in buying Covis, sources told Bloomberg News, adding that a formal sale process is expected to start soon.

Representatives for Cerberus declined to comment, while Covis' representatives did not respond to requests for a comment about the sale, according to Bloomberg News.