China’s Shanghai Fosun Pharmaceutical is planning a bid for German generic drugmaker Stada, already the center of a 3.6 billion euro ($3.8 billion) takeover battle between two private equity consortia, two people close to the matter told Reuters. Fosun Pharma is also holding early-stage talks with buyout funds including CVC about a potential joint bid, but may decide initially to go it alone with a view to taking financial investors on board later, one of the people said. Stada is expecting to receive so-called confirmatory bids from a consortium comprising Advent and Permira as well as from rivals Bain and Cinven, who have also teamed, on Friday. The planned Stada bid is part of Fosun Pharma’s overseas expansion plans, after it acquired an Indian drugmaker, Gland Pharma, last year. Fosun Pharma’s Chairman Chen Qiyu had said in September that the firm was eyeing investments in other overseas markets.