Advent International to acquire controlling stake in RA Chem Pharma

///Advent International to acquire controlling stake in RA Chem Pharma

Advent International to acquire controlling stake in RA Chem Pharma

by India Global Business Staff
Advent International to acquire controlling stake in RA Chem Pharma

Under the agreement, Advent will currently acquire about 74 per cent stake in RA Chem and the remaining 26 per cent will be bought at a larger stage.

Boston based private equity fund Advent International has signed a definitive agreement to acquire a controlling stake in Hyderabad headquartered API manufacturer RA Chem Pharma from its parent firm Micro Labs in a deal valuing the company for about $174 million, people aware of the development told The Economic Times.

Under the agreement, Advent will currently acquire about 74 per cent stake in RA Chem and the remaining 26 per cent will be bought at a larger stage.

Shweta Jalan, Managing Director and Head, Advent International, said: “We continue to be excited about India’s pharmaceutical landscape and investing in RA Chem Pharma will further strengthen our presence in the sector. We aim to build one of the leading API platforms in India and will leverage our financial and operational resources globally to scale RA Chem Pharma both organically and inorganically.”

This is Advent’s sixth investment in the healthcare sector globally and seventh investment in India over the past 12 months.

2020-08-19T13:24:06+00:00July 31st, 2020|India Inc Views - India Global Business, News in Brief|

About the Author: India Global Business Staff