June 27, 2020 / 4:39 AM / 7 days ago

Carlyle buys 20% stake in Piramal Pharma businesses

June 27 (Reuters) - U.S.-based Carlyle Group Inc has agreed to buy a 20% stake in India’s Piramal Enterprises Ltd’s pharmaceutical businesses for about $490 million, the companies said in a statement on Saturday.

The capital increase aims to accelerate Piramal Pharma’s organic and inorganic growth plans, according to the statement. (Reporting by Maria Ponnezhath in Bengaluru; Editing by William Mallard)

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