AIF Capital Exits Famy Care Through a Strategic Sale to Mylan (Asia)
Source: Mylan, Private Equity International | Author(s): Clare Burrows
Global pharmaceutical company Mylan has signed a definitive agreement to acquire certain female health care businesses from India-based oral contraceptive pill manufacturer Famy Care for US$750 million, plus additional contingent payments of up to US$50 million, facilitating an exit for Asia-focused private equity firm AIF Capital. AIF Capital originally invested INR1.8 billion (approximately US$40 million) in Famy Care for a minority stake in April 2010. The transaction, which is subject to regulatory approvals and certain closing conditions, is expected to close in the second half of 2015.