Transaction expected to close in Q3 2020
Global investment firm The Carlyle Group and existing promoters of SeQuent Scientific announced on 08 May 2020 that CA Harbor Investments, an affiliated entity of CAP V Mauritius Limited and The Carlyle Group (together, Carlyle), has agreed to acquire an equity stake of up to 74% in Sequent Scientific (SeQuent), the largest pure-play animal healthcare company in India.CA Harbor Investments proposes to acquire a majority stake in SeQuent via private share purchase agreements, for a purchase price of Rs 86 per share. Pursuant to the Securities and Exchange Board of India (SEBI)'s Takeover Regulations, the proposed transaction will trigger a mandatory open offer by CA Harbor Investments and CAP V Mauritius for the purchase of up to 26% equity shares of SeQuent from public shareholders to be identified in the open offer documents1. The transaction is expected to close in the third quarter of 2020, subject to customary closing conditions and regulatory approvals. Following the completion of this transaction, CA Harbor Investments will become the new promoter of Sequent.
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