Advent International to pick up 50.1% in Suven Pharma for Rs 6,313 crore

To launch open offer for another 26%; plans merger with Cohance

Global private equity giant Advent International said on Monday it was buying a 50.1 per cent stake in Hyderabad-based Suven Pharmaceuticals for Rs 6,313 crore, and was planning to merge it with its portfolio company Cohance Lifesciences. The promoter Jasti family will hold only 9.9 per cent stake in the firm if the deal goes through. The deal would be subject to regulatory approvals and conditions.

Advent will launch an open offer for another 26 per cent stake at Rs 495 per share. If the open offer is fully subscribed, Advent will have to pay another Rs 3,276 crore and the