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Cipla's potential stake sale faces a challenge due to disagreements among its promoters regarding the company's valuation. This dispute among the founders could potentially delay the deal until a consensus is reached on the valuation, according to sources cited by ET Now.
Torrent Pharma has stated that it does not have any information to disclose under listing regulations, in response to reports about the company's talks to acquire a stake in Cipla. While the company did not deny the developments, it mentioned that it does not comment on speculative reports without verified data. Torrent Pharma is reportedly making efforts to secure financing for the acquisition.
Sources also suggest that an investment bank has been hired to advise on the deal and PE firms like Blackstone, Baring Asia among others are in talks to explore a deal. This move comes as a step towards succession planning for the company, they added.