Carlyle buys 20per cent stake in Piramal Pharma businesses

Carlyle buys 20per cent stake in Piramal Pharma businesses

U.S.-based Carlyle Group Inc has agreed to buy a 20per cent stake in India's Piramal Enterprises Ltd's pharmaceutical businesses for about US$490 million, the companies said in a statement on Saturday.

Passersby walk in front of video monitors announcing the Carlyle Group's listing on the NASDAQ
Passersby walk in front of video monitors announcing the Carlyle Group's listing on the NASDAQ market site in New York's Times Square after the opening bell for trading, U.S. May 3, 2012. REUTERS/Keith Bedford/File Photo

REUTERS: U.S.-based Carlyle Group Inc has agreed to buy a 20per cent stake in India's Piramal Enterprises Ltd's pharmaceutical businesses for about US$490 million, the companies said in a statement on Saturday.

The capital increase aims to accelerate Piramal Pharma's organic and inorganic growth plans, according to the statement.

(Reporting by Maria Ponnezhath in Bengaluru; Editing by William Mallard)

Source: Reuters

Bookmark