Zentiva

Private equity firm GTCR is close to finalizing a deal to acquire Zentiva, the European generic drugmaker owned by Advent International, in a transaction valued at about $4.8 billion, according to people familiar with the matter.

GTCR is understood to have emerged as the frontrunner after surpassing offers from rival bidders, including other private equity firms and pharmaceutical companies. An official announcement could come as early as Thursday, the sources said, requesting anonymity because discussions remain private. Representatives for GTCR, Advent, and Zentiva have not yet provided comment.

Advent has been exploring a sale of Zentiva for several months, working …