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Piramal sells 20% in pharmaceutical business to Carlyle for $490 mn

Carlyle will pick up a 20 per cent stake for $490 million or around Rs 3,700 crore in the pharma subsidiary called Piramal Pharma Ltd

Piramal Enterprises | Carlyle Group | pharmaceutical industry

Sohini Das  |  Mumbai 

Ajay Piramal
Ajay Piramal, chairman of Piramal Enterprises, said: "We will list the pharma business in the near future."

A decade after the Piramal group sold its domestic formulations business to US-based Abbott for $3.72 billion, it has again signed a large deal to unlock value in its existing business. On Saturday, (PEL) said US-based private equity player Carlyle was taking a 20 per cent stake in its pharma business at an enterprise value of $2.78 billion. The group also plans to list its business arm, which has been spun off into a separate subsidiary, soon. Through this, Piramal is readying a ‘war chest’ for future strategic investments —both organic and inorganic.



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First Published: Sat, June 27 2020. 19:41 IST