Zenith Pharmaceuticals sells 1.9% in Strides Acrolab for $5.4mn
Zenith Pharmaceuticals sold 1.9% or 7.5 Lakh shares in Strides Arcolab at Rs.328.6 per share of which Goldman Sachs Investments bought 3.1 Lakh shares.
This follows another transaction on 15th January when Zenith sold 5% of its holdings or 20 Lakh shares through .
Zenith Pharmaceuticals is the largest shareholder in Strides Arcolabs. Pre-deal, Zenith, a special vehicle of Symphony Capital Partners, owned 12,452,557 shares in the company for almost five years though the percentage dipped due to other investments in the company.
Zenith has been invested in Strides since 1999 and held up to 70% share in it around 2003. Post deal, Zenith' shareholding in Strides Arcolab has come down to around 24.1%.
Around 14% stake is held by financial institutions, including 7.6% stake held by Reliance Mutual Fund while promoters hold only 17% stake in the company.
Established in 1990, Strides is one of India’s leading integrated manufacturer and exporter of finished pharmaceutical dosage forms – both branded and generic. It has have 13 world class plants in India, Singapore, Brazil, Mexico, Poland and Italy. It is planning to acquire a manufacturing facility in Brazil from Aspen Inc.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 15/10/10 | Strides Arcolab - Zenith Pharma (Exit) | Private Equity | Reliance Life Insurance Company Limited | 72.00 |
| 07/10/10 | Strides Arcolab - HSBC Global | Private Equity | HSBC Global Investment Funds | 34.92 |
| 28/09/10 | Strides Arcolab - QIP | IPO / Offerings | 100.82 | |
| 09/03/10 | Strides Arcolab - Zenith Pharma Partial Exit | Private Equity | Goldman Sachs (Principal Investments) | 5.40 |
| 15/01/10 | Strides Arcolabs-Zenith Pharma | Private Equity | - | |
| 31/12/04 | Strides Arcolab - Passport India Investments | Private Equity | Passport India Investments (Mauritius) Limited | - |
| 31/12/03 | Strides Arcolab - Indiaman Fund (Mauritius) | Private Equity | Indiaman Fund (Mauritius) Limited | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 02/02/12 | M&A | Aanjaneya Lifecare Limited | Apex Drugs And Intermediates Limited | 51.05 | Completed |
| 25/01/12 | M&A | Jubilant Life Sciences Limited | Vanthys Pharmaceuticals Development Private Limited | - | Planned |
| 24/01/12 | M&A | Watson Pharmaceuticals Inc | Ascent Pharmahealth Limited | 395.61 | Completed |
| 20/01/12 | M&A | Lipoxen Plc | - | Planned |
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| Goldman Sachs (Principal Investments) | Real Estate IT/ITES/Technology Basic Industries BFSI Transport & Logistics |
www2.goldmansachs.com | Surbhi Mehta | |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| 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 |
Cipla Limited Lupin Limited Wockhardt Hospitals Limited Mylan Laboratories Limited (Formerly Matrix Laboratories Ltd) Sun Pharmaceutical Industries Limited Dr. Reddy's Laboratories Limited Bharat Serums & Vaccines Limited |
www.stridesarco.com |
| Zenith Pharmaceuticals Limited | Parappur Road, Kottakkal Malappuram Dt. Kerala - 676 503 Adm. Office : Lakshmi Complex, Opp. Metropolitan Hospital, Thrissur - 680007. (Kerala) | http://zenithpharmaceuticals.com | ||
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