Carlyle to offload up to 10 percent stake in Piramal Pharma in Rs 26-27 billion deal: Report
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U.S.-based private equity powerhouse Carlyle Group is reportedly gearing up to offload up to a 10 percent stake in Piramal Pharma, according to a Moneycontrol report citing sources.
The sale, expected to be executed through block trades, could earn Carlyle anywhere between Rs 26 billion to Rs 27 billion, the report added, as per Reuters.
Carlyle Group, through its affiliate Ca Alchemy Investments, had a 18% stake in Piramal Pharma as of March-end this year, exchange data showed. This planned sale would effectively slice that holding almost in half.
In October 2020, Medical Dialogues team reported that Piramal Pharma had completed the sale of 20 percent stake in the company for Rs 3,523.40 crore to Carlyle Group Inc.
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