Global investment firm The Carlyle Group has acquired majority stake in Mumbai-based animal health company SeQuent Scientific.
The Carlyle Group and existing promoters of SeQuent on May 8 announced that CA Harbor Investments, an affiliate of CAP V Mauritius and The Carlyle Group, has agreed to acquire up to 74 percent in SeQuent Scientific.
It will acquire a majority stake via a private share purchase agreement, at Rs 86 per share. The deal is expected to be completed in the third quarter of 2020, the release noted, following which CA Harbor Investments will become the new promoter of SeQuent.
Neeraj Bharadwaj, Managing Director of the Carlyle Asia Partners team, said, “SeQuent is led by an experienced management team, and has built strong API and formulation businesses that are poised for continued growth in the evolving animal health industry. We will draw on our global network, industry knowledge and operating expertise in healthcare to advise SeQuent on its business expansion strategy, enhance its operations, and help the company drive sales and product innovation.”
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