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Carlyle Group invests in Piramal

Via CA Clover Intermediate II Investments, private equity firm the Carlyle Group is to invest about $940 million in fresh equity capital for a 20% stake in Piramal Pharma, the healthcare subsidiary of Indian conglomerate Piramal Enterprises (PEL). This values the business at $2,775 million with an upside component of up to $360 million depending on the company’s performance this financial year.

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