India: PE firm Advent International to buy controlling stake in Avra Labs

India: PE firm Advent International to buy controlling stake in Avra Labs

Photo: Reuters

Private equity firm Advent International Monday said it has signed a definitive agreement to acquire a controlling stake in Hyderabad-based Avra Laboratories Pvt Limited from Dr A V Rama Rao and his family.

While the deal size was not disclosed, some media reports pegged it at about $100 million.

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