Avantor Performance Materials (formerly Mallinckrodt Baker) is to acquire RFCL (formerly Ranbaxy Fine Chemical Ltd) from ICICI Venture. Reports suggest that ICICI has sold around 90% of its holding in a deal worth $101-113m. ICICI Venture had bought RFCL for only $22m. In 2008, ICICI Venture was planning to acquire Mallinckrodt Baker but did not agree a price. ICICI has been seeking a buyer since the summer.
Economic Times
SiFy
Monday 8 November 2010
Avantor acquires RFCL
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