KKR To Buy Capsugel For $2.38B

Private-equity firm, Kohlberg Kravis Roberts & Company, will acquire Pfizer’s unit Capsugel, The Wall Street Journal reports. The maker of hard capsules and other drug-delivery systems will be sold for about $2.38 billion in cash.

The deal is expected to be completed by the third quarter of 2011. Simpson Thacher & Bartlett was appointed as the legal counsel for KKR, while Morgan Stanley and Guggenheim Securities were financial advisers for the drug maker, adds Bloomberg.

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