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Carlyle Group to buy 20% stake in Piramal Pharma for over Rs 3,700 cr

US-based Carlyle Group Inc will pick up a 20% stake in Piramal Pharma for around $490 million (over Rs 3,700 crore), Piramal Enterprises said on Saturday

Topics
Piramal Group | Carlyle Group | M&A deals

Press Trust of India  |  New Delhi 

Ajay Piramal
File photo of Piramal Group Chairman Ajay Piramal

US-based Inc would pick up a 20 per cent stake in Piramal Pharma for around $490 million (over Rs 3,700 crore), Piramal Enterprises said on Saturday.

"... CA Clover Intermediate II Investments, an affiliated entity of CAP V Mauritius Ltd, an investment fund managed and advised by affiliated entities of The Inc has agreed to invest fresh equity capital for a 20 per cent stake in Piramal Pharma Ltd," the Ajay Piramal-led company said in a regulatory filing.

The estimated equity capital investment for Carlyle's 20 per cent stake in Piramal Pharma would amount to around $490 million, it said.

The final amount of equity investment will depend on the net debt, exchange rate and performance against the pre-agreed conditions at the time of closing of the deal, it added.

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First Published: Sat, June 27 2020. 11:00 IST
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