Indian pharmaceutical major Cipla is exploring a stake sale to private equity majors including Blackstone and Baring Asia, MoneyControl reported. Meanwhile, Canada-based alternative investment manager Brookfield is reportedly in advanced talks to close a real estate transaction.
Cipla mulls stake sale to PE majors
Pharmaceutical major Cipla is exploring a stake sale to private equity majors including Blackstone and Baring Asia, MoneyControl reported.
The promoters currently own a 33.47 % stake in the company and the sale is seen as the beginning of succession planning.
The pharma firm is also looking for a strategic investor to renew its future strategy to enhance capital allocation, and operational efficiency and to improve return metrics.
Cipla has a presence in more than 80 countries, providing over 1,500 products across various therapeutic categories.
Brookfield in talks to acquire Mumbai realty project
Canada-based alternative investment manager Brookfield is in advanced talks to close a transaction for acquiring an 800,000 sq. ft, 10-storey real estate project in Mumbai, VCCircle reported.
The project – Inspire BKC – will potentially fetch between Rs 1,000 crore and Rs 2,000 crore ($120-240 million), per the report.
Although the property has been on sale over the past five years, the deal was delayed due to valuation differences and other technical issues.
Brookfield Asset Management was in talks to invest $1 billion in multiple tranches in Avaada Ventures Pvt Ltd (AVPL), the parent entity of Avaada Group, in March and has also acquired a 51% stake in renewable energy supplier CleanMax Enviro in April.
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