13.06.2014 - Japanís Meiji buying Temasek-backed drugmaker Medreich for $290M
Meiji Seika Pharma, a part of Meiji Holdings Co. Ltd, has signed a deal to acquire Medreich Ltd, a Bangalore-based contract manufacturing pharmaceutical company, for $290 million (Rs 1,720 crore). This acquisition will also mark an exit for Singaporeís sovereign fund Temasek, which had invested in the company way back in 2005. One source said Temasek held close to 33 per cent in Medreich, which it had picked through an allotment nine years ago for around Rs 112 crore ($25 million). This means it is exiting with 5.1x in local currency and 3.9x in dollar terms in its nine-year-old bet on the firm...............................................Full Article: Source
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