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Zenith Pharmaceuticals sells 1.9% in Strides Acrolab for $5.4mn

By : Pranay Surakanti | 10 March 2010
Industry : Healthcare
Category : Private Equity

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

  DEAL TRACKER FOR
DateTransactionTypeBuyerSize ($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 
 
  Recent Transactions In The Sector
DateTypeBuyerTargetSize ($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  
 
  Profiles

Fund

NameCorpus Target Sector WebsiteKeyContact
Goldman Sachs (Principal Investments)    Real Estate
IT/ITES/Technology
Basic Industries
BFSI
Transport & Logistics  
www2.goldmansachs.com  Surbhi Mehta  

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   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
1 November 22, 2010
12:37 PM
answerlog,
forumlog,
taxalcool,
redma


- Posted by ese4
Recommended by 0 Readers
2 November 22, 2010
12:37 PM
answerlog,
forumlog,
taxalcool,
redma


- Posted by ese4
Recommended by 0 Readers
3 May 29, 2010
05:24 PM
PE DEALS

- Posted by shashikant
Recommended by 0 Readers
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