12/26/2022
Private equity major Advent International will buy a 50.1% stake in Suven Pharmaceuticals Ltd (SUVH.NS) from its promoter Jasti family and consider merging it with a peer in its portfolio, the Indian drugmaker said on Monday.4 hours ago
The company announced it in its regulatory filing.
Advent International through its manager Kotak Mahindra Capital Company Ltd has announced an open offer to acquire 26 per cent more in the company from public shareholders, entailing a total outgo of ₹3,276.25 crore if fully subscribed.
The offer has been triggered by the share purchase agreement that Advent has entered into a pact with the promoters to acquire over 12.75 crore shares, representing a 50.1 per cent stake in Suven Pharmaceuticals for ₹495 per equity share.
Through the open offer, Advent proposed to acquire up to 6,61,86,889 equity shares constituting 26 per cent of the voting share capital for ₹495 per share.
In a statement, Advent said it has entered into a definitive agreement to acquire a significant stake in Suven Pharmaceuticals, subject to regulatory approvals and conditions.
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