In a deal marking the end of family ownership for Italian pharmaceutical Recordati, private equity firm CVC Capital Partners announced a EUR3.03 B (US$3.5 B) takeover of FIMIE (Finanziaria Industriale Mobiliare ed Immobiliare), the holding company that owns a majority interest in Recordati. The deal is expected to be completed in Q4 2018 with the current CEO of Recordati retaining his position post transaction.