PE Giants Vie for Gland Pharma in USD 3 Billion Blockbuster Buyout
Fosun, which currently holds about a 51% stake in Gland Pharma, has appointed investment banks Morgan Stanley and UBS to facilitate the sale process.;
New Delhi: Global private equity giants Blackstone, Brookfield, and Warburg Pincus are reportedly in discussions to acquire a majority stake in Hyderabad-based Gland Pharma from China's Shanghai Fosun Pharmaceutical. The deal is expected to value Gland Pharma at nearly USD 3 billion (approximately Rs 26,046 crore).
Fosun, which currently holds about a 51% stake in Gland Pharma, has appointed investment banks Morgan Stanley and UBS to facilitate the sale process. Binding bids are anticipated next month.
Founded in 1978, Gland Pharma specializes in developing and manufacturing generic injectables, serving nearly 90 countries with a focus on the Indian and U.S. markets. In the December quarter, the company reported revenues of Rs 1,384 crore and a profit after tax of Rs 204.7 crore.
The potential sale is expected to trigger an open offer to Gland Pharma’s shareholders, with the buyers aiming to own between 60-65% of the company post-transaction.
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