GTCR is in talks with direct lenders, including KKR, to raise financing for a potential acquisition of Prague-based drugmaker Zentiva, according to Bloomberg. The deal could value the business at about €5bn ($5.8bn), according to a report by Bloomberg.

Sources said discussions are ongoing and there is no certainty a transaction will materialise. GTCR and Zentiva did not respond to requests for comment, while Advent International, which currently owns Zentiva, and KKR both declined to comment.

Other firms previously linked to a potential bid include TPG and Aurobindo Pharma of India. Advent bought Zentiva from Sanofi in 2018 for €1.9bn and has hired Goldman Sachs and PJT Partners to advise on the sale process.

Zentiva develops and manufactures more than 500 products in 900 drug forms, serving patients across more than 30 countries with treatments ranging from blood diseases to painkillers.

The possible transaction comes amid a surge in global M&A activity, with $2.7tn in deals announced so far this year, a more than 25% increase on 2024 levels.

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