HYDERABAD: Suven Pharmaceuticals on Monday said its promoters, the Jasti family, are selling their 50.1% stake in the company to global private equity player Advent International for a consideration of over Rs 6,300 crore.
As part of the share purchase agreement inked on Monday, Advent will be acquiring 12,75,37,043 equity shares of the Hyderabad-based CDMO (contract development and manufacturing organisation) at a price of Rs 495 per share, the company said in a regulatory filing. The deal is subject to the necessary regulatory approvals and conditions.
