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AZB helps Carlyle win race for $490m 20% stake in CAM’s Piramal

Carlyle has agreed to pick up a significant minority stake in Ajay Piramal’s pharma business for $490 million trumping rival private equity peers KKR and TA Associates. The 20% stake sale values Piramal’s pharma business at Carlyle’s offer would value the business at around Rs 20,000 crore ($2.6 billion).

The Economic Times

Cyril Amarchand Mangaldas acted for Piramal, led by managing partner Cyril Shroff with partners Radhika Gaggar and Ruetveij Pandya.

AZB & Partners acted for steady client Carlyle, with partner Sayak Maity and senior associate Sneha Nagvekar.

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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