BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - International private equity firm, Cinven, Monday announced an agreement to sell an indirect minority stake in SYNLAB to strategic investor LabCorp, an innovative and comprehensive lab services. The purchase price for the 15 percent minority stake was approximately 140 million euros.
Labcorp will acquire the indirect minority stake through an intermediate holding company established to hold the investment with SYNLAB.
Glenn Eisenberg, CFO of LabCorp said, 'The investment by Labcorp is another significant milestone in Cinven's strong Healthcare track record.'
Completion of the transaction is expected in the first quarter of 2025 and is subject to regulatory approvals.
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