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Piramal Enterprises subsidiary Piramal Pharma has concluded the previously announced sale of its 20% stake to US-based global investment firm Carlyle Group in a deal valued approximately Rs35.234bn ($480m).
US private equity firm Carlyle Group has agreed to acquire a stake of 20% stake in Piramal Pharma, the pharmaceutical business of Indian conglomerate Piramal Enterprises, in a deal worth up to $490m.