Carlyle Group to acquire 74 per cent stake in SeQuent Scientific

Global investment firm-Carlyle Group announced that its affiliated entity; CA Harbor Investments agreed to acquire an equity stake of up to 74 per cent in SeQuent Scientific Limited, the largest pure-play animal healthcare company in India.

The transaction is expected to close in the third quarter of 2020 at a purchase price of Rs 86 per share subject to regulatory approvals and customary closing conditions following which, CA Harbor Investments will become the new promoter of SeQuent Scientific.

Pursuant to Securities & Exchange Board of India (SEBI)’s takeover regulations, the proposed transaction will trigger a mandatory open offer by CA Harbor Investments and CAP V Mauritius Limited for the purchase of up to 26 per cent equity shares of SeQuent from public shareholders to be identified in the open offer documents.

Headquartered in Mumbai, SeQuent is the largest Indian pure-play animal healthcare company with global operations. It provides animal health active pharmaceutical ingredients (API), formulations and analytical services in over 100 countries, with more than 1,700 employees and manufacturing operations in India, Spain, Turkey, Germany and Brazil.

At 1 pm on Monday, the stock was trading at Rs 82, up by 2.18 per cent or Rs 1.75 per share. The 52-week high is recorded at Rs 99.35 and the 52-week low is Rs 52 on BSE.