{"id":94034,"date":"2024-07-22T00:00:00","date_gmt":"2024-07-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/adia-eyes-indian-biopharma-firm\/"},"modified":"2024-07-22T00:00:00","modified_gmt":"2024-07-22T00:00:00","slug":"adia-eyes-indian-biopharma-firm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/07\/22\/adia-eyes-indian-biopharma-firm\/","title":{"rendered":"Adia eyes Indian biopharma firm"},"content":{"rendered":"

Adia-led consortium bids USD 1.6 bn for Indian biopharma firm: <\/strong>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<\/a> (BSV Group), Indian newspaper Economic Times<\/a> reports, citing sources in the know. Indian Mankind Pharma<\/a>, 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.<\/p>\n

If Adia acquires the firm at the submitted value, it would mark one of India\u2019s largest pharma buyouts<\/strong>, according to Economic Times.<\/span><\/p>\n

Mubadala was also in the race: <\/strong>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. <\/p>\n

About BSV: <\/strong>Founded in 1971, BSV Group specializes in developing, manufacturing, and marketing injectable medicines with a focus on biotech and biological products.<\/p>\n

OTHER M&A NEWS-<\/p>\n

Equitativa sells Trident Grand Mall:<\/strong> Equitativa, the manager of Emirates NBD\u2019s real estate investment trust (REIT), sold Trident Grand Mall for AED 74 mn to an unnamed investor, according to a press release (pdf)<\/a>. 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.<\/p>\n

The proceeds of the sale will be used to redeem <\/strong>USD 380 mn sukuk certificates<\/a><\/strong> issued on 12 December<\/strong>, according to the statement. Following the sale, Emirate REIT will have nine properties across Dubai in its portfolio. <\/p>\n","protected":false},"excerpt":{"rendered":"

Another Indian pharma firm submitted a matching bid for the company<\/p>\n","protected":false},"author":1,"featured_media":94035,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[368,7,60],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-abu-dhabi-investment-authority","tag-enterpriseam-uae","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"ff0d275e-e25a-450d-ad43-93a98685c446","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/1160.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Adia submits USD 1.6 bn bid for Indian biopharma firm Bharat Serums and Vaccines","related_issue":[94020],"teaser":"Another Indian pharma firm submitted a matching bid for the company","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.577a27fc-e0f8-4dee-9555-d13c1a53f9d3.mp3"},"yoast_head":"\nAdia eyes Indian biopharma firm - 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