Piramal Pharma concludes 20 percent stake sale to Carlyle for Rs 3523.40 crore
New Delhi: Piramal Enterprises-arm Piramal Pharma has completed the sale of 20 percent stake in the company for Rs 3,523.40 crore to US-based global investment firm Carlyle Group Inc.
Piramal Pharma has received Rs 3,523.40 crore from CA Alchemy Investments, an affiliated entity of CAP V Mauritius Ltd, an investment fund managed and advised by affiliated entities of The Carlyle Group Inc, the companies said in a joint statement.
The transaction values the Pharma Business at an enterprise value of USD 2,775 million (over Rs 20,300 crore) with an upside component of up to USD 360 million (over Rs 2,630 crore) depending on the company''s FY21 performance, it added.
This transaction is one of the largest private equity deals in the Indian pharmaceutical sector. It provides Piramal Pharma Ltd (PPL) growth capital that enables it to invest in accelerated business growth through both organic and inorganic opportunities, the statement said.
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