Debt financing

US co Perfect, Belgian firm Tessenderlo among 5 in the race to buy Sterling Biotech

Economic Times  

Fresh bidding for Sterling Biotech, which is headed for liquidation, has drawn five potential buyers, including an Indian consortium of Shamrock Pharmachemi and India Gelatine & Chemicals, US-based startup Perfect Day and Belgian firm Tessenderlo Chemie International NV. The other two are ACG Associated Capsules, an integrated pharmaceutical manufacturing solutions company, and Progressive Star Finance. Sterling Biotech owes more than INR 8,100 crore to lenders. It operates two manufacturing facilities in Gujarat and one in Tamil Nadu.

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