Italy's Angelini Pharma completes $4.1 billion state-backed takeover of Catalyst

The deal is a "decisive step" in transforming Angelini into a global pharmaceutical player, said its Chief Executive Sergio Marullo di Codojanni.

"This initiative is in line with our commitment to supporting innovation and the international growth of Italy's leading industrial companies," said Fabio Barchiesi, chief executive of CDP Equity.

Angelini Pharma, part of the eponymous family-owned group founded in 1919, paid $31.50 in cash for each Catalyst share, the Italian group said in a statement.

The deal led to the delisting of the Florida-based biotech company from the Nasdaq market.

CDP Equity, the investment arm of CDP, invested around €1 billion to buy 23.5% of Angelini Pharma through a capital hike to help fund the transaction, the statement said, confirming a previous Reuters report.

To support the transaction, funds managed by Blackstone BX.N will invest €1 billion in preferred equity.

The deal was financed with the support of France's BNP Paribas BNPP.PA.

ROME, July 16 (Reuters) - Angelini Pharma said on Thursday it had completed the acquisition of U.S. rare-disease drug maker Catalyst Pharmaceuticals CPRX.O in a $4.1 billion deal involving Italian state lender CDP.

The acquisition gives Angelini full ownership of Catalyst's portfolio of rare disease treatments and its commercial operations in the U.S., creating what the Italian group described as a new platform for growth in neurological and rare disorders.