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Cinven secures Italian nod to sell minority stake in Synlab to Labcorp

2024.11.20 04:25

ROME (Reuters) – Private equity firm Cinven secured a conditional approval from Italian authorities over its plan to sell a 15% stake in diagnostic service provider Synlab to laboratory operator Labcorp, a government document sent to parliament showed.

Golden powers legislation requires Italian government approval for any decision which results in changes in the ownership, control or availability of strategic assets in the country.

Italy’s cabinet authorised the transaction on Nov. 12 with some unspecified conditions, according to the document.

© Reuters. FILE PHOTO: The logo for Labcorp, Laboratory Corporation of America, a life sciences company is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 22, 2023.  REUTERS/Brendan McDermid/File Photo

Announced in September, the deal is worth some 150 million euros ($158.48 million).

($1 = 0.9465 euros)



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