US-Based Carlyle Buys 20% Stake In Piramal Pharma Businesses

U.S.-based Carlyle Group Inc  has agreed to buy a 20% stake in India’s Piramal Enterprises Ltd’s  pharmaceutical businesses for about $490 million, the companies said in a statement on Saturday.

The capital increase aims to accelerate Piramal Pharma’s organic and inorganic growth plans, according to the statement.

The Piramal Group is a diversified global business conglomerate, which has presence across various sectors such as healthcare, life sciences, drug discovery, healthcare information management, specialty glass packaging, financial services and real estate.