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Carlos Slim private equity fund transfers stake in pharma co
December 30, 2013 / 8:35 PM / 4 years ago

Carlos Slim private equity fund transfers stake in pharma co

MEXICO CITY, Dec 30 (Reuters) - Mexican pharmaceutical company Landsteiner Scientific said a stake held in the company by billionaire businessman Carlos Slim’s private equity fund has been transferred to a fund related to Landsteiner.

The shares were transferred on Friday to an investment fund called Imagina tu Crecimiento, which is part of the group that controls Landsteiner Scientific, the company said, without giving further details.

The filing made to Mexico’s stock exchange did not disclose the value of the stake.

Slim’s fund, known as Sinca Inbursa, held its 27.51 percent stake in Landsteiner at a book value of 286 million pesos ($21.88 million), according to the 2012 annual report of Slim’s financial company Grupo Financiero Inbursa.

Sinca Inbursa acquired the stake in Landsteiner, which focuses on developing highly specialized medicines and treating diseases such as osteoporosis and diabetes, in June 2008.

Officials at Landsteiner, Inbursa and Imagina tu Crecimiento did not immediately respond to requests for comment.

Most of Sinca Inbursa’s investments are in transport and infrastructure companies and the Landsteiner stake represented 6.6 percent of Sinca’s investment portfolio. The fund had total capital of 5.152 billion pesos at the end of 2012.

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