PE firm Advent International to buy majority stake in Indian pharma firm ZCL Chemicals
Photo: Myriam Zilles / Unsplash
February 9, 2021
Private equity firm Advent International on Monday said that it has signed a definitive agreement to acquire a majority stake in pharmaceutical firm ZCL Chemicals Ltd.
Financial details of the transaction were not disclosed. However, a person aware of the transaction said the acquisition pegs an enterprise valuation of ₹1,700 crore ($233 million) for the company, which was earlier known as Zandu Chemicals Ltd.
With this transaction, Morgan Stanley Private Equity Asia, a private equity platform that previously managed a minority investment in ZCL, will exit its investment, Advent International said in a statement.
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
PE fund Advent to acquire majority stake in ZCL Chemicals; Morgan Stanley PE to exit via deal
Advent has been investing in India since 2007. In this time, it has deployed over $1.7 billion in 12 companies with headquarters or operations in the country. February 08, 2021 / 01:58 PM IST
Private equity fund Advent International on February 8 announced that it has signed a definitive agreement to acquire a majority stake in ZCL Chemicals, formerly known as Zandu Chemicals. The transaction represents the third deal in the domestic pharma segment by Advent which has earlier acquired Hyderabad based RA Chem and Bharat Serums and Vaccines.
With this transaction, Morgan Stanley Private Equity Asia, a private equity platform that previously managed a minority investment in ZCL, will exit its investment, the announcement said. The financial terms of the deal were not disclosed.
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.