Fosun Pharma Sells 5% Stake in India’s Gland Pharma for $172 Million
Summary
Shanghai Fosun Pharma sold a 5% stake in Indias Gland Pharma for $172 million via a block trade. In 2017, Fosun paid $1.1 billion for a 58% holding in Gland from a group of investors including KKR. According to unofficial reports, Fosun has been trying to sell its Gland shares for some time, but professional investors have balked at the high asking price, with Fosun unable to persuade them to believe in its optimistic view of Glands future. To raise some capital, Fosun has decided to continue offering 5% pieces of Gland to investors. More details.... Share this with colleagues:This article is available for purchase -Sorry this page is available to subscribers only.If youre not a subscriber why not subscribe today?If you are already a subscriber, please login.If you believe you should have received this message in error, please contact us.