Warburg Pincus Receives CCI Approval to Acquire a 32.3 Percent Stake in Laurus Labs (Asia)

Source: VCCircle | Author(s): Bhawna Gupta

Global private equity firm Warburg Pincus has received approval from the Competition Commission of India (CCI) for its proposed acquisition of a 32.3 percent stake in India-based pharmaceutical company Laurus Labs. Warburg will subscribe to compulsorily convertible preference shares of Laurus besides acquiring paid-up equity shares from certain existing shareholders. Financial details of the transaction were not disclosed.