Piramal Healthcare Plans Acquisition In Home Finance, Security Systems
Piramal Healthcare Limited is looking for acquisitions in housing finance and defence systems.
It recently acquired 5.5% stake in Vodafone India Limited from Essar for R3007Cr.
With this deal the total shareholding of Piramal in Vodafone will increase to 11%. The company raised R18 bn through commercial papers with 30-day and 75-day maturities, to pay in part for raising its stake in Vodafone India unit.
In FY10-11, PHL sold its healthcare solution business to Abbot for $ 3.8 Bn and sold stake in Piramal Diagnostics Services Private Limited to Super Religare Labs for Rs. 6.0 Bn.
It also acquired Indiareit Fund Advisors Private Limited for R225Cr to enter financial service business and launched Piramal Capital, to make real estate and infrastructure loans.
Piramal Healthcare On BSE
Piramal acquired assets of Biosyntech for C$ 4.7 Mn. Piramal Healthcare had earlier acquired 17% stake in BioSyntech in 2006. This investment gave Piramal the rights for the marketing, sales and distribution of current and future products of BioSyntech, for India and some neighbouring Asian markets.
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