Buyout groups confirm Stada bids, secure funding - sources

Patricia Weiss and Alexander Hübner

FRANKFURT, March 15 (Reuters) - The two private equity

consortia vying for Stada have made binding takeover

offers each worth 4.7 billion euros ($5.0 billion) including

debt, paving the way for a deeper look into the German generic

drugmaker's books, several people familiar with the matter said.

The competing groups, Advent and Permira against Bain and

Cinven, have also secured financing packages, which had been a

precondition set by Stada before more business data could be

provided, the sources added.

The non-executive supervisory board of Stada - a supplier of

generic drugs, consumer care products, diagnostics kits and

e-cigarettes for vaping - is due to meet on Wednesday to

consider the offers, they said.

As part of the confirmed offers, worth 58 euros per share as

before, shareholders stand to receive the full dividend of 0.72

euros per share for 2016, a payout level that was proposed by

Stada's management two weeks ago.

The Financial Times late on Tuesday reported the

confirmatory bids.

Reuters reported last week that confirmatory bids would

likely be around the initial level of about 58 euros per share

and that final bids could be up to 60 euros per share, depending

on the more detailed due diligence assessment.

Reuters has also reported that China's Shanghai Fosun

Pharmaceutical is looking into entering the bidding


($1 = 0.9401 euros)

(Writing by Ludwig Burger; Editing by Keith Weir)