KKR to Take Minority Stake in India’s Gland Pharma

KKR to Take Minority Stake in India’s Gland Pharma


Nov. 28, 2013 2:43 a.m. ET

MUMBAI— KKR & Co. L.PKKR +0.08% Thursday said it had agreed to pick up a minority stake in Indian generic injectable pharmaceutical products company Gland Pharma Ltd. for about $200 million. The U.S. private-equity firm didn’t disclose how much stake it had planned to buy. As part of the deal, KKR will also buy the stake held by Evolvence India Life Sciences Fund, an existing private equity investor in Gland Pharma.Gland Pharma, based in the southern Indian city of Hyderabad, develops and manufactures generic injectables primarily for the U.S. market, and for India and other semi-regulated markets. In 2003, Gland Pharma was the first company in India to get U.S. Food and Drug Administration approval for pharmaceutical liquid injectable products, KKR said in a news release.

KKR’s investment in Gland Pharma represents its fourth announced investment from the KKR Asian II Fund and its second overall private equity investment in India in 2013, the release added.

The firm has invested more than $1 billion in private equity in India since 2006, with substantial investments in atlas five Indian firms, its website showed. The fund may own residual interests in other Indian firms which weren’t listed on its website, the website said.

The investment is KKR’s fourth announced deal from its Asia II fund, which raised $6 billion earlier this year for investments across the region. In October, it bought a minority stake in Malaysia’s Weststar Aviation Services for about $200 million, an investment made from the fund.

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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