Torrent Pharmaceuticals looks to raise funds from CVC, Bain Capital for Cipla acquisition

Share via:

Ahmedabad-based pharma company Torrent Pharmaceuticals is reportedly in talks with CVC Capital Partners and Bain Capital, the well-known private equity funds, to raise up to $1.5 billion for Cipla, another pharma company based in Mumbai, acquisition.

According to a Reuters report, Torrent isn’t alone interested to acquire stakes in Cipla. A New York-based investment banking firm Blackstone also shown interest in acquiring the Mumbai-based pharma company stake.

The report said that the founding family of Cipla is likely to sell their 33.4% holding entirely , and any bid will also trigger an open offer for another 26% stake, as per Indian regulations. That translates to a $6.75 – $7 billion deal (Rs 60,000 crore), Bernstein estimated in an Aug. 30 report.

What does Cipla do?

Cipla is a Mumbai-based company with operations in international markets like North America and South Africa. The company sells generic medicines for common ailments like cold and fever. It was founded in 1935 by Khwaja Abdul Hamied and currently led by Umang Vohra. 

On the other hand, Torrent, valued at 54% less than Cipla’s $11.9 billion, operates in over 40 countries. The company offers medicines for conditions such as diabetes, pain, women’s health issues, cancer, and infections.

The report further said Torrent and Blackstone have reportedly placed preliminary offers to acquire Cipla. Additionally, Torrent is discussing potential debt financing options for this acquisition with international banks such as Morgan Stanley and Barclays, the report added.

Also Read:

Zomato liquidates Slovakia subsidiary as it wants to deepen focus on Indian market

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Torrent Pharmaceuticals looks to raise funds from CVC, Bain Capital for Cipla acquisition

Ahmedabad-based pharma company Torrent Pharmaceuticals is reportedly in talks with CVC Capital Partners and Bain Capital, the well-known private equity funds, to raise up to $1.5 billion for Cipla, another pharma company based in Mumbai, acquisition.

According to a Reuters report, Torrent isn’t alone interested to acquire stakes in Cipla. A New York-based investment banking firm Blackstone also shown interest in acquiring the Mumbai-based pharma company stake.

The report said that the founding family of Cipla is likely to sell their 33.4% holding entirely , and any bid will also trigger an open offer for another 26% stake, as per Indian regulations. That translates to a $6.75 – $7 billion deal (Rs 60,000 crore), Bernstein estimated in an Aug. 30 report.

What does Cipla do?

Cipla is a Mumbai-based company with operations in international markets like North America and South Africa. The company sells generic medicines for common ailments like cold and fever. It was founded in 1935 by Khwaja Abdul Hamied and currently led by Umang Vohra. 

On the other hand, Torrent, valued at 54% less than Cipla’s $11.9 billion, operates in over 40 countries. The company offers medicines for conditions such as diabetes, pain, women’s health issues, cancer, and infections.

The report further said Torrent and Blackstone have reportedly placed preliminary offers to acquire Cipla. Additionally, Torrent is discussing potential debt financing options for this acquisition with international banks such as Morgan Stanley and Barclays, the report added.

Also Read:

Zomato liquidates Slovakia subsidiary as it wants to deepen focus on Indian market

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

OpenAI calls DeepSeek ‘state-controlled,’ calls for bans on ‘PRC-produced’...

In a new policy proposal, OpenAI describes Chinese...

Insta Maids: Urban Company enters quick commerce with 15-minute...

At-home services startup Urban Company has entered the...

Apple working on live translation feature for AirPods with...

We’re only three months away from the next...

Popular

Upcoming Events

World Kidney Day 2025: Understanding Kidney Health with Expert...

New Delhi , March 13: “Are Your Kidneys...

Starlink entry won’t impact India’s space ecosystem, says IN-SPACe...

The entry of Elon Musk's Starlink satellite-based internet...

Apple working on live translation feature for AirPods with...

We’re only three months away from the next...
d.fesdfrwa.dfa d.fesdfrwa.dfa d.fesdfrwa.dfa d.fesdfrwa.dfa d.fesdfrwa.dfa d.fesdfrwa.dfa d.fesdfrwa.dfa d.fesdfrwa.dfa d.fesdfrwa.dfa d.fesdfrwa.dfa