Shanghai Fosun Pharmaceutical (Group) Co. Ltd. ( "Fosun
Pharma"), a leading Chinese health care provider) will acquire ~86%
stake in the KKR-backed Gland Pharma (“Company”) for up to USD 1.26 bn.
Fosun Pharma has signed a definitive agreement to acquire ~86% stake in
Hyderabad-based pure-play generic injectable products company Gland
Pharma, for upto USD 1.26 bn.
Fosun will acquire shares from KKR, the Founders, Vetter Group and also
subscribe to Convertible Preference Shares of Gland Pharma (amounting to
~ 6% stake). PVN Raju, Founder of the Company, and his son Dr. Ravi
Penmetsa will retain a stake and continue on the Board of Gland Pharma.
Dr. Ravi Penmetsa will continue as MD & CEO.
The deal is subject to customary regulatory and shareholder clearances.
With a USD 175 million fundraise, Hike
messenger has just upped the game in the mobile messaging market.
Loaded with cash and backed by the global bigwigs which include Bharti,
Softbank, Tiger Global and now Tencent, the app is gunning for the pole
position which has so far been firmly sitting with Whatsapp.
GST – How will it change the dynamics of the Logistics industry in India
by Sanjay Bansal Published: 12th August 2016
The business community of India
finally breathed a long held sigh of relief as GST(Good and Services
Tax) bill was passed in the Parliament. A country divided by different
taxes pertaining to each state and the central government, a uniform tax
structure is definitely something to cheer about.
Indian branded apparel retail: Promising but not big enough?
by Shweta Jain Published: 10th August 2016
International brands including Zara,
H&M, Mango, Guess, GAP etc. have made deep inroads in the Indian
apparel market. Indian consumers increasingly prefer these brands for
their perceived quality, fit and style. On the contrary, Indian brands,
such as Fab India, W, BIBA, AND, Allen Solly, Van Heusen etc., which
have been quite successful in the domestic market have failed to
replicate a similar fan following in the global arena.