Japanese diversified trading company - Mitsui has acquired 25% stake in API maker Arch Pharmalabs for R372 Cr increasing its stake to 30%, according to ET. Mitsui is buying out the stakes of IL&FS Trust Co, IDBI Trusteeship Services and Rainbow Fund. The move will lead to exit for these funds. The deal will also increase the stake of foreign investors in the Indian company to 46%. Other investor includes – ICICI Venture, Dynamic India Fund, Granite Hill India Oppourtunities Fund and Leverage India Fund among others. Incorporated in 1993, Arch Pharmalabs as Merven Drug is engaged in the manufacturing of API / intermediates and also offers CRAMS. APL has 11 multipurpose manufacturing facilities (including two facilities owned by its subsidiary Avon Organics Limited) across Maharashtra (Six), Andhra Pradesh (Four) and Gurgaon. Out of these facilities, three are USFDA approved (including one owned by Avon Organics Limited) and one of the USFDA unit has also ...
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