U.S.-based private equity fund Blackstone is planning to submit a bid next week to acquire a 33.47% stake in Indian drugmaker Cipla, according to sources cited by the Economic Times. This bid will mark the beginning of the exit of the Hamied family, who founded Cipla in 1935. Last month, it was reported that top shareholders of Cipla, including Blackstone, were in talks to sell a portion of their stake to private equity players. Neither Cipla nor Blackstone have responded to Reuters’ request for comment on this matter. U.S.-based private equity fund Blackstone: https://www.blackstone.com/Indian drugmaker Cipla: https://www.cipla.com/Economic Times: https://economictimes.indiatimes.com/Reuters: https://www.reuters.com/

Source: Economic Times August 05, 2023 13:35 UTC