KKR has received approval from the European Commission regarding its plans to acquire pharmaceutical coating manufacturer Capsugel, Reuters reports. The private equity firm will pay a total of around $2.38 billion for the acquisition of Pfizer’s unit.
The commission has approved the proposal following an investigation that showed that the deal would not hamper rivals. Capsugel, the maker of hard capsules, earned about $750 million in revenues in 2010.
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