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Blackstone closing in on Aurobindo's injectables biz

Economic Times  

Blackstone has emerged as the frontrunner to acquire the wholly owned injectables arm of Aurobindo Pharma, valuing the business at INR 26,000-30,000 crore (USD 3.4-4 billion). The keenly contested transaction, now in the final stages of negotiations, pits Blackstone against Baring Private Equity Asia, the only other contender still in the fray and is likely to see listed Aurobindo getting split into two, with the injectables business, Eugia Pharma Specialities Limited, getting vertically demerged into a separate listed company.