Hyderabad-based drugmaker Granules India has exited its joint venture with Granules OmniChem, while AGC Networks, an Essar group company, and Eurokids are set to make acquisitions.
KKR-backed EuroKids acquiring Fravashi Academy
If the deal pushes through, it will be EuroKids’s third acquisition within just one year after it was bought by KKR from a consortium of investors led by PE firm Gaja Capital.
EuroKids, which is one of India’s largest education services providers in the pre-school and K-12 segments, acquired Kidzee, Asia’s largest preschool chain, from Zee Learn in November. It also owns Kangaroo Kids and Billabong High franchise, which it acquired in 2017. Its other portfolio includes EuroKids, EuroKids DayCare and EuroSchool.
Granules India sells JV stake for $14.5m
Granules India, a drugmaker based in Hyderabad, has sold its entire stake in Granules OmniChem to its joint venture partner Belgian firm Ajinomoto Bio-Pharma Services for about $14.5 million, according to media reports.
The JV was formed in 2011 to manufacture active pharmaceutical ingredients and intermediates. The divestment was in line with Granules India’s focus on strengthening its core area of business, Krishna Prasad Chigurupati, the company’s chairman and managing director, was quoted as saying.
In February, the company also sold its stake in Granules-Biocase Pharmaceutical Co Ltd, its Chinese joint venture, to its partner Hubei Biocause Heilen Pharmaceutical.
AGC Networks to buy Dubai’s Fujisoft for $2.6m
The share sale agreement includes Fujisoft Security Solutions LLC and Fujisoft Technology LLC, both based out of Dubai, and Abu Dhabi-based Fuji Soft Technology LLC.
These companies are engaged in IT solutions services, trading of computer system and communications equipment software, web designing, and network installation, among others.