KKR to invest about $150 mln in Gland Pharma: Sources
Quotes

KKR to invest about $150 mln in Gland Pharma: Sources

Last Updated: Friday, October 11, 2013, 12:28
 
 Comment 0
 
KKR to invest about $150 mln in Gland Pharma: Sources
Mumbai: US private equity firm KKR & Co LP will pay about $150 million for close to 30 percent of Gland Pharma Ltd, two sources with direct knowledge of the matter told.

A deal is likely to be announced in the coming weeks, one of the sources said on Friday.

KKR India Chief Executive Sanjay Nayar declined to comment, while Gland Pharma Vice Chairman Ravi Penmetsa was not immediately available for comment.

The deal would be KKR`s second sizeable India investment in six months. In April, it bought a controlling stake in India`s Alliance Tire Group from Warburg Pincus LLC for what sources said was about $500 million.

Established in 1978, unlisted Gland Pharma makes active pharmaceutical ingredients and injectable formulations for segments including osteoarthritis, anti-coagulants, gynaecology, and ophthalmology, according to its website.

Private equity investments in India fell about 67 percent in the September quarter from a year earlier, to about $1.3 billion in 75 deals, according to early data from Venture Intelligence.



Reuters

First Published: Friday, October 11, 2013, 12:28


Comments


comments powered by Disqus
World Economic Forum 2015
World Economic Forum 2015
G20 Summit 2014
G20 Summit 2014
2014`s Top People in Business: Fortune
2014`s Top People in Business: Fortune
World Bank`s Top 10 Places for Business
World Bank`s Top 10 Places for Business
India`s top ten billionaires
India`s top ten billionaires

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved