Fosun revises bid for KKR-backed Gland Pharma
Shanghai Fosun Pharmaceutical has altered the terms of its acquisition of a majority stake in India-based Gland Pharma – a deal that will facilitate an exit for KKR – as part of a long-running battle to win regulatory approval.
The Chinese company agreed in July of last year to pay up to $1.26 billion for a 79.99% interest in Gland and subscribe to $60.8 million in convertible preference shares that would take its holding to...
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