Carlyle & Piramal Pharma Sign Agreement On 20% Strategic Growth Investment

Piramal Enterprises Limited and The Carlyle Group announced that CA Clover Intermediate II Investments, an affiliated entity of CAP V Mauritius Limited, an investment fund managed and advised by affiliated entities of The Carlyle Group Inc. has agreed to invest fresh equity capital for a 20% stake in Piramal Pharma Limited (Piramal Pharma), a wholly owned subsidiary of Piramal Enterprises Limited that will contain its pharmaceutical businesses. The transaction values the Pharma Business at an enterprise value (EV) of $2,775 million with an upside component of up to $360 million depending on the company’s FY21 performance.

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