Carlyle to buy 20% Piramal Pharma stake

The Carlyle Group’s CA Clover Intermediate II Investments has agreed to buy a 20% stake in Piramal Pharma Ltd., a wholly owned subsidiary of Piramal Enterprises Ltd. (PEL), for $490 million (₹3,700 crore).

Based on milestone achievements, Piramal Pharma will be paid an additional $70 million. The transaction is expected to close in 2020.

The transaction values PEL’s pharma business at an enterprise value of $2,775 million with an upside component of up to $360 million depending on the company’s FY21 performance.

The pharma business would be hived off as a separate company and listed.

The funds infusion would provide a “war chest” for the next phase of strategy, PEL Chairman Ajay Piramal said.

You have reached your limit for free articles this month.

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Personalised recommendations

A select list of articles that match your interests and tastes.

Faster pages

Move smoothly between articles as our pages load instantly.


A one-stop-shop for seeing the latest updates, and managing your preferences.


We brief you on the latest and most important developments, three times a day.

Not convinced? Know why you should pay for news.

*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *