CVC, already the majority shareholder with a 46.8% stake, has positioned the move as a long-term strategic consolidation rather than a short-term financial transaction.
Under the terms of the agreement, Chiesi will purchase KalVista for US$27 per share, representing a 36% premium over the company’s closing stock price on April 28.
CVC first invested in Recordati in 2018, paying €3.03 billion (USD 3.5 billion) to acquire a 51.8% controlling stake.
Construction crews have already broken ground on the expansion project, which Axplora expects to complete by February 2027.
Alfasigma will pay GSK USD 300 million upfront, with an additional USD 100 million due upon US Food and Drug Administration (FDA) approval.