US-Based Carlyle Buys 20% Stake In Piramal Enterprises' Pharma Business For Rs 3,700 Crore

Mumbai-based Piramal Enterprises said on Saturday that US-based investment firm Carlyle Group will purchase a 20 per cent stake in its pharmaceutical unit for around $490 million (Rs 3,706.36 crore at $1 = Rs 75.64). Piramal Enterprises will integrate its pharmaceuticals businesses into its wholly-owned subsidiary Piramal Pharma, which will use the capital raised through the deal to accelerate its organic and inorganic growth plans. ...