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Fosun Pharma Sells 5% Stake in India’s Gland Pharma for $172 Million

publication date: Jun 21, 2024

Shanghai Fosun Pharma sold a 5% stake in India’s 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 Gland’s future. To raise some capital, Fosun has decided to continue offering 5% pieces of Gland to investors. The current selling price is more than three times Fosun’s 2017 purchase price. More details....

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