Private equity firms Actis Capital and Sequoia Capital are planning to sell a controlling stake in FMCG company Paras Pharmaceuticals Limited for $700 million.The private equity firms decided to sell their shares after receiving interest from drugmakers including GlaxoSmithKline, Sanofi-Aventis and Abbott Laboratories.
Actis, a private equity firm that invests in emerging markets, holds about 62% in Paras and Sequoia holds about 8%, while Paras Chairman Girish Patel and employees own the remaining stake.
Transaction Reference: BS
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