Advent buys majority stake in India's ZCL, MSPEA exits
Advent International has agreed to acquire Indian pharmaceuticals supplier ZCL Chemicals, setting up a minority exit for Morgan Stanley Private Equity Asia (MSPEA).
Financial details were not disclosed, although the deal was said to contemplate an enterprise value of INR17 billion ($233 million), according to The Economic Times. MSPEA acquired a 20% stake in ZCL for...
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