People familiar with the matter revealed that after receiving the intention of receiving potential buyers, Fosun Pharmaceutical, a subsidiary of Billionaire Guo Guangchang, is considering selling Indian pharmaceuticals Gland Pharma LTD.
According to Bloomberg, people familiar with the matter said that the company has been working with an adviser to inform the intention of the right formal evaluation of its Gland Holdings.People familiar with the matter who did not want to be named because of the incident that the incident said that there were industry companies and acquisitions companies in the initial stage of the business.
People familiar with the matter revealed that in a difficult financing environment, the high valuation expectations of Fosun Pharmaceutical may hinder the achievement of potential transactions.A person familiar with the matter added that the company has not yet started the formal sales procedure and is not sure that related considerations will form transactions.
Fosun Pharmaceutical acquired 74%of Gland's equity from KKR & CO. In 2017, it was acquired from KKR & CO.According to the data compiled by Bloomberg, the business was listed in Mumbai three years later, and the first public offerings were $ 873 million.
Gland's stock price has fallen by about 54%in the Mumbai market this year, with a market value of about $ 3.5 billion (S $ 4.81 billion).According to the company's website, Gland, headquartered in Heideraba, focuses on the development of drugs in antibiotics, oncology, and heart disease treatment, with business in about 60 countries.
Fosun Pharmaceutical is a listed subsidiary of Fosun International of China Enterprise Group. When Fosun International seeks to improve its own assets and liabilities, the sale of GLAND will help this group that was keen to acquirefunds.Bloomberg News previously reported that Fosun International has been exploring options for several assets, including the Mediterranean Club of French resort operators and some domestic food and beverage business.
