Advent International, a private equity investor, has signed an agreement to acquire a majority stake in pharmaceutical company ZCL Chemicals Ltd.With this transaction, Morgan Stanley Private Equity As
Advent International to buy majority stake in ZCL Chemicals
February 08, 2021
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Global PE investors will pick 51% stake in pharma firm at an enterprise value of ₹1,700 cr
Marking its fourth investment in India, global private equity investor Advent International has signed an agreement to acquire a majority stake in pharmaceutical firm ZCL Chemicals Ltd (formerly known as Zandu Chemicals Ltd).
While the financial terms of the transaction were not disclosed, sources close to the development said Advent International will buy a 51 per cent stake in ZCL at an enterprise value of ₹1,700 crore. Following the deal, existing investor Morgan Stanley Private Equity Asia ((MSPEA) – which had earlier made a minority investment – will completely exit the company.