Advent International buys majority stake in Suven Pharma for Rs 6300 Cr
27 December 2022 | News
Exploring a merger of Cohance with Suven in a synergistic manner
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Advent International, a global private equity investor, has entered into an agreement to acquire a significant stake in Hyderabad-based Suven Pharmaceuticals for Rs 6300 crore.
As part of the transaction, Advent will be making an open offer to acquire additional 26% of the outstanding equity shares of the company from the public shareholders.
After the completion of this acquisition, Advent intends to explore the merger of its portfolio company, Cohance Lifesciences with Suven, to build a leading end-to-end contract development and manufacturing organisation (CDMO) for the pharma and specialty chemical markets.
Cohance was launched by Advent in November 2022 as a new brand identity for its Active Pharmaceutical Ingredient (API) and CDMO platform, which comprises of three portfolio companies in RA Chem Pharma, ZCL Chemicals and Avra Laboratories.
