CCI gives approval to Carlyle Group's 20% buy in Piramal Pharma

The Competition Commission of India (CCI) on Friday said it had approved acquisition of 20 per cent stake in Ajay Piramal-led Piramal Pharma by US-based global investment firm Carlyle Group. 

Piramal Enterprises, in a regulatory filing, in June had said Carlyle Group Inc would buy 20 per cent stake in Piramal Pharma for around $490 million (over Rs 3,700 crore). 

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 said.