KKR to invest about $150 mln in India's Gland Pharma-sources

Reuters

MUMBAI, Oct 11 (Reuters) - U.S. private equity firm KKR & CoLP will pay about $150 million for close to 30 percentof India's Gland Pharma Ltd, two sources with direct knowledgeof the matter told Reuters.

A deal is likely to be announced in the coming weeks, one ofthe sources said on Friday.

KKR India Chief Executive Sanjay Nayar declined to comment,while Gland Pharma Vice Chairman Ravi Penmetsa was notimmediately available for comment.

The deal would be KKR's second sizeable India investment insix months. In April, it bought a controlling stake in India'sAlliance Tire Group from Warburg Pincus LLC for whatsources said was about $500 million.

Established in 1978, unlisted Gland Pharma makes activepharmaceutical ingredients and injectable formulations forsegments including osteoarthritis, anti-coagulants, gynaecology,and ophthalmology, according to its website.

Private equity investments in India fell about 67 percent inthe September quarter from a year earlier, to about $1.3 billionin 75 deals, according to early data from Venture Intelligence.

View Comments (0)