Piramal Pharma will use the capital injection to accelerate its
organic and inorganic growth plans, the statement said.
The investment comes a month after the private equity firm
bought a majority stake in Indian animal healthcare company
SeQuent Scientific Ltd.
"India is a hugely strategic part of Carlyle's Asia business,
and a market where we continue to see many attractive investment
opportunities," Greg Zeluck, Co-Head of Carlyle Asia Partners
advisory team said.
Earlier this month, India's Economic Times reported that Carlyle
had emerged as the frontrunner to grab a minority stake in the
pharma unit of business mogul Ajay Piramal, with U.S. private
equity firms TA Associates and KKR & Co Inc also submitting
offers for the 20% stake.
The transaction is expected to close in 2020.
(Reporting by Maria Ponnezhath in Bengaluru; Editing by William
Mallard and Richard Pullin)
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