The private equity arm of Wall Street powerhouse Goldman Sachs has entered the final stage of negotiations to buy out the minority stake held by ChrysCapital in top contract research player GVK Biosciences, people with knowledge of the matter told Moneycontrol.
If talks fructify, this would be the second domestic pure play pharma investment by the Goldman Sachs group. In November 2020, it pumped in $150 million in Kiran Mazumdar Shaw-led Biocon Biologics. On October 9, 2020, Moneycontrol was the first to report that Chrys Capital was exploring an exit from GVK Biosciences and that other key shareholders may also consider a part stake sale depending on valuations.
“This deal has reached the finish line and the Goldman Sachs group has edged out other private equity rivals. The co-promoters of the target firm, namely GVK group and DS Brar, the former CEO and managing director of Ranbaxy Labs may also sell a part stake and the combined final stake on offer may be higher,” one of the persons cited above told Moneycontrol.
Read more/Source: Money Control
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