(Reuters) -Private equity firm Carlyle Group is preparing to offload up to a 10% stake in India’s Piramal Pharma, online news portal Moneycontrol reported on Thursday, citing sources. The U.S.-based firm could earn in the range of 26 billion rupees ($304.8 million) to 27 billion rupees from the sale via block trades, the report added. […]
Health
Carlyle to sell up to 10% stake in Piramal Pharma, Moneycontrol reports
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(Reuters) -Private equity firm Carlyle Group is preparing to offload up to a 10% stake in India’s Piramal Pharma, online news portal Moneycontrol reported on Thursday, citing sources.
The U.S.-based firm could earn in the range of 26 billion rupees ($304.8 million) to 27 billion rupees from the sale via block trades, the report added.
Carlyle Group and Piramal Pharma did not immediately respond to Reuters requests for comment.
Carlyle Group, through its affiliate Ca Alchemy Investments, had a 18% stake in Piramal Pharma as of March-end this year, exchange data showed.
Carlyle had picked up a 20% stake in the Indian drugmaker in 2020 for approximately $490 million, the Moneycontrol report added.
($1 = 85.3090 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Nivedita Bhattacharjee)