Adia-led consortium bids USD 1.6 bn for Indian biopharma firm: A consortium comprising the Abu Dhabi Investment Authority (Adia) and Swedish private equity firm EQT has offered USD 1.6 bn to acquire Indian biopharma firm Bharat Serums and Vaccines (BSV Group), Indian newspaper Economic Times reports, citing sources in the know. Indian Mankind Pharma, is also vying for the firm, having submitted a matching USD 1.6 bn bid to take over BSV from US private equity firm Advent International. A final decision is expected soon, the outlet added.

If Adia acquires the firm at the submitted value, it would mark one of India’s largest pharma buyouts, according to Economic Times.

Mubadala was also in the race: A consortium including Mubadala, New York-based private equity firm Warburg Pincus, and India-focused investment firm ChrysCapital was previously competing for BSV, however it did not submit a binding offer to Advent.

About BSV: Founded in 1971, BSV Group specializes in developing, manufacturing, and marketing injectable medicines with a focus on biotech and biological products.

OTHER M&A NEWS-

Equitativa sells Trident Grand Mall: Equitativa, the manager of Emirates NBD’s real estate investment trust (REIT), sold Trident Grand Mall for AED 74 mn to an unnamed investor, according to a press release (pdf). The asset is the two floor retail section of Trident Grand Residence in Jumeirah Beach Residence, featuring 22 retail units and 164 basement parking spaces.

The proceeds of the sale will be used to redeem USD 380 mn sukuk certificates issued on 12 December, according to the statement. Following the sale, Emirate REIT will have nine properties across Dubai in its portfolio.

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