CA Harbor Investments, an affiliated entity of CAP V Mauritius Ltd and Carlyle Group (Carlyle), you have agreed to acquire up to 74 per cent. of the equity stake in SeQuent Scientific Ltd, according to a statement.
CA Harbor Investments proposes to acquire a majority stake in SeQuent through private purchase agreements at a purchase price of Rs 86 per share. Share, said The Carlyle Group.
Pursuant to SEBI Acquisition regulations will trigger the proposed transaction from a mandatory open offer from CA Harbor Investments and CAP V Mauritius Ltd to buy up to 26 percent SeQuent shares from public shareholders, the statement said.
The transaction is expected to close in the third quarter of 2020, it added.
“We are pleased to have achieved this strategic result for SeQuent and its investors through this divestment,” said founder Arun Kumar on behalf of the current promoter group in SeQuent.
About the development, Carlyle Asia Partners team MD Neeraj Bharadwaj said: “We will draw on our global network, industry knowledge and healthcare expertise to advise SeQuent on its business expansion strategy, improve its operations and help the company drive sales and product innovation. ”
Carlyle sees strong growth potential in the global animal health industry, including the livestock segment where SeQuent operates, thanks to rising animal protein demand, rising food security awareness and growing disposable income, he said.