Carlyle, Piramal Pharma sign agreement on 20% strategic growth investment

Mumbai: Diversified company Piramal Enterprises on Saturday said that it will integrate its pharma businesses into Piramal Pharma. Piramal Pharma will include Piramal Pharma Solutions, Piramal Critical Care, Consumer Products Division, PEL's investment in the joint venture with Allergan India and Convergence Chemicals. Further, the integrated entity will receive an estimated fresh equity capital worth around $490 million for a 20 per cent stake from global investment firm Carlyle Group's affiliated entity. The transaction values the 'Pharma Business' at an enterprise value (EV) of $2,775 million with an upside component of up to $360 million depending on the company's FY21 performance, the diversified company said. (IANS)

Also Watch: Get Set Global: Assamese in UK coping with the Pandemic