Two Singaporean sovereign wealth funds have acquired a major stake in Novotech in a deal that values the clinical trials business owned by private equity giant TPG Capital at more than $3 billion.
While declining to disclose the size of the shareholding, Novotech said GIC and Temasek had agreed to by a “significant stake”. TPG, led by its regional executive Joel Thickens, have been working with bankers at Jefferies and Goldman Sachs to find investors for the company for more than 18 months.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.