JLL Forms New Pharma Firm with DSM in $2.6 Billion Deal

JLL Partners Inc., a New York-based private-equity firm, agreed to buy a majority stake in vitamin-maker Royal DSM NV (DSM)’s pharmaceuticals business to create a new company in a deal valued at $2.6 billion.

The unit will be rolled into Patheon Inc. (PTI), a Canada-based specialty-pharmaceuticals manufacturer controlled by JLL, the companies said in a joint statement today. The new entity is projected to have sales next year of about $2 billion. DSM shares gained as much as 3.7 percent in Amsterdam trading.

Read the full article on Bloomberg here.