Mankind Pharma Nearing $1.5B Acquisition of Bharat Serums
Mankind Pharma may buy Bharat Serums for $1.5B; deal announcement expected soon.
People with knowledge of the situation claim that Mankind
Pharma Ltd. is emerging as the front-runner to buy Bharat Serums & Vaccines
Ltd. in a deal that may value the target business at about $1.5 billion. The persons, who wished to remain anonymous
while discussing personal matters, stated that Mankind Pharma, which makes
brands including Manforce Condoms and Prega News pregnancy tests, is in
advanced negotiations to purchase a majority interest in Bharat Serums from
Advent International. They suggested that an announcement may occur within the
next several weeks.
According to the persons, private equity firm Advent, which
bought the bulk of Bharat Serums in 2019, wants to leave the company and give
investors their money back. They stated that although discussions are still in
progress, they might end or another buyer could show up. Advent and Bharat
Serums representatives declined to comment. Messages seeking response from
Mankind Pharma were not answered.
Mankind Pharma had a 1.2% increase in value after the
Bloomberg News story on Thursday. The shares have increased by around 6.5% so
far this year and 10% over the last 12 months.
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