PE Fund Investments
Abu Dhabi sovereign fund ADIA to buy 3% from Temasek in Intas Pharma for Rs.2,000-Cr
Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund owned by the Emirate of Abu Dhabi, is to acquire about 3% in Ahmedabad-based, privately held Intas Pharmaceuticals for USD 250-270 million (INR 2,000 crore) at a valuation of USD 8.5 Billion (INR 65,000 crore). It will buy the stake from existing investor, Temasek, which currently holds about 10% in the drug manufacturer. Intas operates in 85 countries backed by 16 manufacturing facilities worldwide. It has a field force of more than 7,000 executives who cover more than 500,000 doctors across the country. Intas' promoters, the Chudgar family, owns 84% in the company at present, while another PE investor, ChrysCapital, holds 6%.
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