Torrent Pharma is raising Rs. 60,000 crores to acquire its rival Cipla. Read More>>
Torrent Pharmaceuticals is in advanced talks with CVC Capital Partners to raise $1.2-1.5 billion for Cipla acquisition.
Torrent aims for a $7 billion acquisition, one of the largest in recent times, seeking participation from private equity funds.
CVC Capital Partners is likely to lead the consortium, as discussions with Bain Capital continue.
Torrent targets $750 million to $2.25 billion through equity for the acquisition, with committed financing required.
Debt and equity dilution planned with strong cash flows, enabling Torrent to retain 48-63% in Torrent Pharma post-acquisition.
Torrent may raise Rs 10,000-20,000 crore in debt and seeks Rs 20,000-40,000 crore equity infusion from PE investors and others.
Source: Moneycontrol