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Article: ChrysCap in race for ICICI Venture's stake in Intas.
- Article from:
- Economic Times (New Delhi, India)
- Article date:
- November 15, 2005
CopyrightCOPYRIGHT 2005 The Economic Times. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jeetha D'Silva
Nov. 15--MUMBAI, India -- Chryscapital and a host of other private equity firms such as Citicorp Venture Capital, Actis, Baring private equity and New Vernon Capital are in talks with ICICI Venture to buy the latter's 12.5 percent stake in Ahmedabad-based Intas Pharma, industry sources said.
Intas, with sales of Rs 381.1 crore, is ranked among the top 50 companies in the domestic pharmaceutical market. Industry sources added that ChrysCapital has already signed a deal to buy the ICICI stake at about Rs 55 crore. ICICI had bought the stake in 1996 and has been looking to exit for some time now.
A senior official at ...
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