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Last Updated : Jul 04, 2019 02:33 PM IST | Source: Moneycontrol.com

Buyout funds eye significant stake in Wockhardt's domestic formulations business

Wockhardt has told investment firm Moelis & Company that it intends to sell a 40 percent stake.

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Private equity firms Apax Partners, Blackstone, Carlyle and KKR are in talks to buy a significant stake in Wockhardt's domestic formulations business, according to a report in The Economic Times.

Moneycontrol was the first to report that most private equity funds are keen on a majority stake in the domestic formulation business.

Wockhardt has told investment firm Moelis & Company that it intends to sell a 40 percent stake, the report said. But interested purchasers are eyeing a controlling interest of 51 percent.

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The valuation of Wockhardt's domestic formulations business is pegged at Rs 4,000-4,500 crore.

Torrent Pharma has also expressed interest, the report said.

Habil Khorakiwala-owned Wockhardt in 2018 released nine new products in the Indian market.

The company's key domestic brands include Aceroc, Ace Proxyvon, Biovac-B, Brozedex, Clopione, Cavidin INH, Gainehair Solution, Viscodyne and Zedex.

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First Published on Jul 4, 2019 02:18 pm
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