PAG, an Asia-focussed private equity firm, along with its consortium partners CX Partners and Samara Capital, is all set to acquire a controlling stake in Anjan Drug Pvt. Ltd, a Chennai-based manufacturer of active pharmaceutical ingredients (API).
However, the terms of the deal were not disclosed.
The acquisition is part of the PAG-led consortium’s strategy to create a platform for the development and production of bulk drug ingredients, PAG said in a statement.
“We see the Indian API market as a very attractive opportunity and well-positioned for the future,” said Nikhil Srivastava, managing director and head, India private equity, PAG.
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