Procaps lines up financing for Mexican acquistion

Procaps lines up financing for Mexican acquistion

M&A Healthcare Pharmaceuticals Equity Colombia Mexico United States

Colombian pharmaceutical company Procaps Group said it expects to use "a combination of cash from its balance sheet and incremental debt" to finance the acquisition of Mexican drugmaker Grupo Somar from US private equity firm Advent International. In the meantime, Nasdaq-listed Procaps has secured a bridge loan from Bank of America, JPMorgan and Morgan Stanley to cover the transaction, it said in a press release on Tuesday. "We expect that the cash generated by our combined companies will also a

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