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Zenith Pharmaceuticals sells 1.9% in Strides Acrolab for $5.4mn
by Pranay Surakanti | March 10,2010 - 06:21 PM

Topics        : Private Equity
Industries  : Healthcare
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Zenith Pharmaceuticals sold 1.9% or 7.5 Lakh shares in Strides Arcolab at Rs.328.6 per share of which Goldman Sachs Investments bought 3.1 Lakh shares.

This follows another transaction on 15th January when Zenith sold 5% of its holdings or 20 Lakh shares through .

Zenith Pharmaceuticals is the largest shareholder in Strides Arcolabs. Pre-deal, Zenith, a special vehicle of Symphony Capital Partners, owned 12,452,557 shares in the company for almost five years though the percentage dipped due to other investments in the company.
 

 


Transaction Note               

Zenith has been invested in Strides since 1999 and held up to 70% share in it around 2003. Post deal, Zenith' shareholding in Strides Arcolab has come down to around 24.1%.

Around 14% stake is held by financial institutions, including 7.6% stake held by Reliance Mutual Fund while promoters hold only 17% stake in the company.

Established in 1990, Strides is one of India’s leading integrated manufacturer and exporter of finished pharmaceutical dosage forms – both branded and generic. It has have 13 world class plants in India, Singapore, Brazil, Mexico, Poland and Italy. It is planning to acquire a manufacturing facility in Brazil from Aspen Inc.

KVEZAR® VIEW
 
 
 
DEAL TRACKER FOR
 
DateTypeSub TypeBuyerSize
Strides Arcolab - Fund Raising
29/06/10  IPO / Offerings  Looking For Buyer  Looking For  96.80 
Strides Arcolab - Zenith Pharma Partial Exit
09/03/10  Private Equity  Capital Market Transaction  Goldman Sachs (Principal Investments)  5.40 
Strides Arcolabs-Zenith Pharma
15/01/10  Private Equity  Capital Market Transaction    0.00 
Strides Arcolab - Passport India Investments
31/12/04  Private Equity    Passport India Investments (Mauritius) Limited  0.00 
Strides Arcolab - Indiaman Fund (Mauritius)
31/12/03  Private Equity    Indiaman Fund (Mauritius) Limited  0.00 
Recent Transactions In The Sector
 
DateTypeBuyerTargetSizeState
07/09/10   IPO / Offerings     Ind Swift Laboratories Limited   106.73   Announced  
 
03/09/10   M&A   Cipla Limited   Cipla Medpro Manufacturing (Pty) Limited   0.00   Announced  
 
02/09/10   Private Equity   Looking For   Zenox Lifesciences Limited   1.28   Planned  
 
01/09/10   IPO / Offerings     Elder Pharmaceuticals Limited   50.00   Planned  
 
Profiles
 
Fund
NameCorpus Target Sector WebsiteKeyContactEmailNo
Goldman Sachs (Principal Investments)    Real Estate
Technology
Basic Industries
BFSI
Transport & Logistics  
www2.goldmansachs.com       
 
Company
NamePromotersOfficeCompetitorWebsite
Strides Arcolab Limited  Padma Kumar Pillai & Family
Chayadeep Properties Private Limited
K R Ravishankar
Arun Kumar
Caryl Pharma Private Limited
Agnus Holdings Private Limited
Arcolab (India) Private Limited  
201 Devavrata SOC 17, Vashi, New Mumbai-400705   Sun Pharmaceutical Industries Limited
Dr. Reddy's Laboratories Limited
Cipla Limited
Lupin Limited
Wockhardt Limited
Matrix Laboratories Limited Duplicate
Bharat Serums & Vaccines Limited  
www.stridesarco.com
 
Zenith Pharmaceuticals Limited       
 
 

Zenith Pharmaceuticals | Strides Arcolab | bulk deals | open market

 
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1 comments so far...

May 29,
2010
05:24 PM
PE DEALS

- Posted by shashikant

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