Blackstone signs agreement to sell its stake in Emcure Pharmaceuticals.

Blackstone announced that one of its affiliated private equity entities based in Mauritius had entered into an agreement to sell its equity stake in Pune-based Emcure Pharmaceuticals Limited to Bain Capital.

Satish Mehta, Emcure's managing director and CEO commenting on the transaction said, 'Blackstone has been a valuable strategic partner for us over the last few years. In addition to providing growth capital to expand our business multi-fold, they also shared strategic insights to manage our fast growing business effectively. We are delighted that we have lived up to the faith reposed in us by Blackstone. We are also delighted to welcome a prestigious firm like Bain Capital and look forward to reaching greater heights in partnership with them.'

TOI