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Franklin Templeton Private Equity divests holding in Symbiotec Pharmalab

Symbiotec, is engaged in research, development and marketing of research based active pharmaceutical ingredients for corticosteroids and hormones.

November 01, 2013 12:39 IST | India Infoline News Service
Franklin Templeton Private Equity Strategy (FTPES), a product managed by Franklin Templeton Asset Management (India) Private Limited, under its Portfolio Management Services registration and advised by Darby Asia Investors (India) Pvt. Ltd, the private equity affiliate within Franklin Templeton Investments has divested its equity holding in Symbiotec Pharmalab Limited, (“Symbiotec”) to private equity firm Actis. IDFC Capital Limited acted as the exclusive financial advisor for the transaction.

Symbiotec, is engaged in research, development, manufacturing and marketing of research based active pharmaceutical ingredients for corticosteroids and hormones. Symbiotec has over 200 customers, including large multinationals as well as generic pharmaceutical companies. FTPES, invested in Symbiotec in September 2011 to support its growth and backward integration plans.

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