Piramal Enterprises, the Indian company controlled by Indian billionaire Ajay Piramal, agreed to buy a 20 percent stake in financial-services company Shriram Capital Ltd. for 20.14 billion rupees ($334 million).
Indiareit Fund Advisors Pvt., which manages $1 billion in real estate assets, is delaying its $250 million overseas fundraising plan by six months to focus on investing for new clients won earlier this month.
Abbott Laboratories will buy Piramal Healthcare Ltd. ’s branded generic-medicine unit in India for $3.72 billion, making it the country’s biggest drugmaker and tapping into a market expected to more than double by 2015.
Super Religare Laboratories Ltd. , controlled by billionaire brothers Malvinder and Shivinder Singh, agreed to buy Piramal Healthcare Ltd. ’s diagnostics unit for 6 billion rupees ($129 million) to become India’s largest provider of laboratory services.
Vodafone Group Plc’s $1.6 billion plan to buy out the local partners in its Indian unit won government approval, six months after the South Asian nation ended limits on foreign ownership in the sector.
Indian billionaire Ajay Piramal may spend $1 billion to acquire biotechnology and defense assets for his health care-to-real estate empire. Investment bankers are unlikely to get a share of that money.