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Apollo Is Said to Near Deal to Buy Covis Pharma From Cerberus

Feb. 5, 2020, 6:32 AM

U.S. buyout firm Apollo Global Management Inc. is nearing a deal to buy closely-held drugmaker Covis Pharma Holdings Sarl from rival private-equity firm Cerberus Capital Management for more than $700 million, according to people familiar with the matter.

Talks are at an advanced stage and the deal could be announced as soon as this week, the people said, asking not to be identified because the matter is private. Apollo, led by billionaire Leon Black, has emerged as the buyer for Covis Pharma ahead of bidders including other private equity firms, the people said.

A representative for Cerberus declined to ...

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