Advent to Buy Majority Stake in Suven Pharma for $762 Million

Advent International Corp., one of the world’s largest private equity firms, will purchase a controlling stake in India’s Suven Pharmaceuticals Ltd. for at least 63.13 billion rupees ($762 million), triggering an open offer to buy further shares in the family-run firm.

The buyout firm agreed to acquire 50.1% of Suven from the Jasti family, according to an exchange filing Monday. The stake purchase also set off a mandatory offer to minority shareholders from Advent under which it can buy as much as 66.19 million shares — or another 26% stake — for 495 rupees each, the same price it ...