Private equity investors Blackstone and Advent International are in separate talks to buy a controlling stake in Suven Pharmaceuticals, Livemint reported on November 4, citing people with knowledge of the development. Moneycontrol was first to break the news on September 7 that promoters of Suven Pharma are evaluating options to sell a stake in the company and have hired an investment bank for an advisory role. “The sale process has been going on for a few months, and now Blackstone and Advent are in the final round of bidding for the controlling stake in Suven Pharma," two unidentified sources told Livemint. Promoters own a 60 percent stake in Suven Pharma, which has a market value of Rs 6,378 crore. Moneycontrol had earlier reported on the promoter group exploring sale plans for Suven Pharmaceuticals prior to its listing on the bourses on February 12, 2020.

Source: Mint November 04, 2022 07:15 UTC