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Our Bureau

New Delhi , Dec. 21

CAPSUGEL, a division of Pfizer that manufactures capsules, has acquired 92.76 per cent stake in Mr Rakesh Bharti Mittal-promoted Bharti Healthcare Enterprises for Rs 88.1 crore.

The total value of the deal has been pegged at Rs 88.1 crore and the acquisition was at the rate of Rs 71 per share.

The Bharti Healthcare plant, located in Dharuhera, Haryana, produces capsules of various sizes.

In a statement, Mr Mittal said, "The decision to exit this venture is in keeping with our functional and operational specialisation and with a view to focus on businesses that are customer facing as well as scalable."

According to Pfizer, "In considering opportunities to enter the Indian market, Pfizer selected Bharti Healthcare Ltd based on the strong results and reputation built up by the leadership of Bharti. We are very excited about this opportunity and look forward to a successful future in India."

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