Private equity firm Ardian agreed to sell all the shares of Riemser Pharma GmbH to Barcelona-based Esteve Pharmaceuticals SA.

Financial details of the transaction were not disclosed.

Riemser, headquartered in Greifswald and Berlin in Germany, provides specialty pharmaceuticals in human medicine. The company has subsidiaries in Great Britain, France and Spain with an international distribution network in more than 50 countries.

Ardian acquired Riemser in 2012 and refocused the company on its core business of specialty pharmaceuticals. Riemser's product portfolio consists of prescription drugs for the treatment of serious diseases in oncology, neurology, infectiology, as well as niche indications in cardiovascular medicine and dermatology, among others.

The closing of the transaction is subject to antitrust approval and is expected in the first quarter of 2020.