TA Associates said to rival KKR in $500m Piramal Pharma stake purchase talks


TA Associates has reportedly taken on fellow private equity major KKR by entering advanced talks over buying a stake in Indian billionire Ajay Piramal’s pharma business.

The buyout house is in talks to buy about 20% of Piramal Pharma for up to $500m according to Bloomberg, which cited unnamed people it said were familiar with the matter.

KKR was previously in competition for the stake, the sources added, while reports from earlier this month said the firm was likely to seal a deal similar to TA’s.

Piramal Pharma, part of the $2.6bn Piramal Enterprises conglomerate, has revenues of about $500m in the nine months ending December 2019, Bloomberg added.
Earlier this year Piramal Enterprises sold its healthcare data and insights unit Decision Resources Group to Clarivate Analytics in a $950m deal.
TA Associates has been fairly quiet on the dealmaking front since the coronavirus crisis ramped up in February, but has completed several growth investments.
They include backing commercial insurance broker Honan Insurance Group earlier this week.
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