Carlyle to take majority stake in SeQuent

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Carlyle

Private equity firm Carlyle Group is to acquire up to 74% equity stake in animal health-focused pharma company SeQuent Scientific, for ₹15.8 billion (US$210 million).

CA Harbor Investments, an affiliated entity of CAP V Mauritius and Carlyle Group, will acquire a majority stake via private share purchase agreements for a purchase price of ₹86 per share. AZB & Partners advised Carlyle Group, represented by partner Bharat Budholia and senior associate Gaurav Bansal.

The proposed transaction will trigger a mandatory open offer by CA Harbor Investments and CAP V Mauritius for the purchase of up to 26% equity shares of SeQuent from public shareholders. The transaction is expected to close in the third quarter of 2020.