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Biocon to Buy GE Capital Stake in Research Services Arm for $35 Million

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Mumbai: Biocon Ltd said on Tuesday it agreed to buy a 7.7 per cent stake in its research services business from a unit of GE Capital for Rs 215 crore ($35.48 million).

Biocon said it would buy the stake in Syngene, which is involved in pharmaceutical contract research and manufacturing, from GE Equity International Mauritius.

It had previously said it planned to take Syngene public, but has not given a timeline.

Copyright @ Thomson Reuters 2014



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