PE Fund Advent To Acquire Majority Stake In ZCL Chemicals; Morgan Stanley PE To Exit Via Deal

PE fund Advent to acquire majority stake in ZCL Chemicals; Morgan Stanley PE to exit via deal
Advent has been investing in India since 2007. In this time, it has deployed over $1.7 billion in 12 companies with headquarters or operations in the country.
February 08, 2021 / 01:58 PM IST
Private equity fund Advent International on February 8 announced that it has signed a definitive agreement to acquire a majority stake in ZCL Chemicals, formerly known as Zandu Chemicals. The transaction represents the third deal in the domestic pharma segment by Advent which has earlier acquired Hyderabad based RA Chem and Bharat Serums and Vaccines.
With this transaction, Morgan Stanley Private Equity Asia, a private equity platform that previously managed a minority investment in ZCL, will exit its investment, the announcement said. The financial terms of the deal were not disclosed.

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