KKR takes stake in Gland Pharma
MUMBAI: United States private equity firm KKR & Co LP will pay about US$150 million (RM476 million) for close to 30 per cent of India's Gland Pharma Ltd, two sources said.
A deal is likely to be announced in the coming weeks, one of the sources said yesterday.
KKR India chief executive Sanjay Nayar declined to comment, while Gland Pharma vice-chairman Ravi Penmetsa was not immediately available for comment.
The deal would be KKR's second sizeable India investment in six months. In April, it bought a controlling stake in India's Alliance Tire Group from Warburg Pincus LLC for what sources said was about US$500 million.
Established in 1978, unlisted Gland Pharma makes active pharmaceutical ingredients and injectable formulations. Reuters