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US-based Carlyle Group to Buy 20% Stake in Piramal Pharma for Over Rs 3,700 Crore

Image: Reuters

Image: Reuters

The estimated equity capital investment for Carlyle's 20 per cent stake in Piramal Pharma would amount to around $490 million.

  • PTI
  • Last Updated: June 27, 2020, 11:33 AM IST
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US-based Carlyle Group Inc will pick up 20 per cent stake in Piramal Pharma for around $490 million (over Rs 3,700 crore), Piramal Enterprises said on Saturday.

"... CA Clover Intermediate II Investments, an affiliated entity of CAP V Mauritius Ltd, an investment fund managed and advised by affiliated entities of The Carlyle Group Inc has agreed to invest fresh equity capital for a 20 per cent stake in Piramal Pharma Ltd," the Ajay Piramal-led company said in a regulatory filing.

The estimated equity capital investment for Carlyle's 20 per cent stake in Piramal Pharma would amount to around USD 490 million, it said.

The final amount of equity investment will depend on the net debt, exchange rate and performance against the pre-agreed conditions at the time of closing of the deal, it added.

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