GE Capital clocks almost 2x as Biocon buys back its stake in Syngene for $35M

By PTI
09 September, 2014

Drug maker Biocon today acquired GE Capital’s entire 7.69 per cent stake in its research services subsidiary Syngene International for Rs 215.38 crore.

The company, which had sold the stake to GE on October 31, 2012 for Rs 125 crore, has paid almost double to buy back this stake.

“Biocon Research Ltd, a wholly owned subsidiary of Biocon, has entered into an agreement with GE Equity International Mauritius, a subsidiary of GE Capital Corporation to purchase the latter’s investment in Biocon’s research services subsidiary, Syngene International for an agreed consideration of Rs 215.38 crore,” the company said in a BSE filing.

Syngene offers integrated drug discovery and development services with capabilities in medicinal chemistry, biology, in vivo pharmacology and toxicology.

It has an expert team of over 1,500 scientists to support the research and development programmes of global pharma, biotech and nutrition companies.


Leave Your Comment
Biocon plans IPO for IVFA-backed drug discovery services arm Syngene

Biocon plans IPO for IVFA-backed drug discovery services arm Syngene

Jasleen Kaur Batra 3 years ago
Biocon Ltd is looking to offload up to 15 per cent in its research arm Syngene International, a firm in which mid-market private equity firm...
India Value Fund buying 10% in Biocon's research arm Syngene for $62M

India Value Fund buying 10% in Biocon’s research arm Syngene for $62M

Shruti Ambavat 3 years ago
Mid-market buyout specialist private equity firm India Value Fund Advisors (IVFA) is picking 10 per cent stake in Syngene International Ltd, a step down research...
GE Capital arm picks up stake in Biocon subsidiary for $23M

GE Capital arm picks up stake in Biocon subsidiary for $23M

Madhav A Chanchani 5 years ago
The private equity arm of GE Capital is acquiring stake in a subsidiary of Bangalore-based biotechnology company Biocon Ltd for Rs 125 crore ($23 million)....
No Comments

GE Capital clocks almost 2x as Biocon buys back its stake in Syngene for $35M

Powered by WordPress.com VIP