Mandarin Capital Pays $17 Million For Majority Stake In Italian CMO

Mandarin Capital Partners, a China private equity firm, paid $17.4 million to acquire a majority stake in an Italian CMO, Mipharm SpA of Milan. Mipharm specializes in making generic drugs and has traditionally had a close relationship with Sandoz, the generic arm of Novartis. Mandarin Capital focuses on European companies and on European businesses that want to expand into China. It closed its second fund, Mandarin Capital Partners II, early this year at $218 million.