Biocon to buy GE Capital stake in research services arm for $35 mln

MUMBAI (Reuters) - Biocon Ltd said on Tuesday it agreed to buy a 7.7 percent stake in its research services business from a unit of GE Capital for 2.15 billion rupees ($35.48 million).

Biocon said it would buy the stake in unit Syngene, which is involved in pharmaceutical contract research and manufacturing, from GE Equity International Mauritius.

Biocon had previously said it planned to take Syngene public, but has not given a timeline.

(Reporting by Zeba Siddiqui in Mumbai; Editing by Subhranshu Sahu)