India's Gland Pharma on Thursday said that American private equity firm KKR & Co. LP had agreed to invest around USD200 million (INR1,300 crore) in the company. According to a report by Reuters, KKR will acquire a minority stake in the Indian injectables manufacturing company. The two-part transaction will be a combination of fresh equity infusion and a buyout of the entire stake held by private equity fund Evolvance India Life Sciences Fund. Evolvance India invested USD30 million in Gland Pharma in 2008, Economic Times said.
Economic Times reported that the deal could put the value of Gland Pharma around the USD600 million to USD650 million (around INR4,000 crore) range. Should the deal be successful, this will be one of the largest private equity deals in India's pharmaceutical sector.
Gland Pharma develops and manufactures generic injectables primarily for the US market as well as for India and other semi-regulated markets, Reuters said.
New York-listed investment firm KKR has a total of USD40.37 billion assets under management, based on its latest financial report.
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