September 30, 2014 / 12:15 PM / 5 years ago

Bertarelli's Waypoint to mop up remaining Euromedic stake - source

LONDON, Sept 30 (Reuters) - Waypoint Capital, the investment vehicle backed by biotech guru Ernesto Bertarelli, is to buy the remaining stake in Euromedic from private equity firm Montagu, valuing the firm at around 800 million euros ($1 billion), a source familiar with negotiations said.

Waypoint already owns around 60 percent of Euromedic through its investment partnership Ares Life Sciences. The transaction, which was advised by UBS and HSBC, is expected to be announced later on Tuesday.

Montagu were not immediately available for comment. ($1 = 0.7947 Euros) (Reporting By Freya Berry; editing by Kirstin Ridley)

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