Blackstone, Baring in race to acquire up to 20% stake in pharma firm Cipla

Cipla shares closed 9.6 per cent up on Thursday to Rs. 1,175

In one of the largest potential transactions this year, private-equity majors Blackstone and Baring have initiated talks with the Hamied family, the promoters of pharmaceutical firm Cipla, to acquire up to 20 per cent in the company.
 

The family owns 33.47 per cent and may become minority owners if the talks succeed, said a source close to the development.

It has appointed bankers to seek bids from potential investors, and Blackstone and Baring PE have responded.

“There is 15-20 per cent which is on the block by the family and a decision is expected soon,” said the source, asking not to be