Blackstone Passes Indian Drugmaker Stake To Bain

Law360, New York (December 19, 2013, 12:23 PM EST) -- Private equity titan The Blackstone Group LP will unload its substantial minority stake in Indian drugmaker Emcure Pharmaceuticals Ltd. in a sale to Bain Capital LLC, the companies said Thursday, giving the New York-based seller an exit from its first-ever Indian investment as others in the market waver.

The firms did not disclose the financial terms of the transaction, one of several this week in the pharmaceutical space. Blackstone paid roughly $50 million for a 13 percent Emcure stake in 2006. Since then, the company has...
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