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CCI approved acquisition of 20% stake of Piramal Pharma Limited by CA Clover Investments
The Competition Commission of India (CCI) approves proposed acquisition of 20 percent of the issued and paid-up equity share capital of the Piramal Pharma Limited by CA Clover Intermediate II Investments (Curie)
The transfer of equity stake will take place through the Group's Special purpose vehicle Curie, Curie is a special purpose acquisition vehicle, owned and controlled by investment funds advised by the affiliates of the Carlyle Group Inc. (“Carlyle Group”).
Carlyle will pick up 20 percent stake in Piramal Enterprises subsidiary Piramal Pharma for $490 million (Rs. 3,700 crores)
The Carlyle Group is a global alternative asset manager whose affiliated investment funds own and control Curie.
The Piramal Group was founded in 1984. Headquartered in Mumbai. Ajay Piramal is the chairman of the Piramal Group.
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