Carlyle Buys 20% Stake in Piramal’s Pharma Business For $490 Million

The Carlyle Group (CG) announced that it has agreed to purchase a 20% stake in the pharmaceutical business of Indian Piramal Enterprises Ltd. for about $490 million.

Carlyle shares rose 3% to $27.25 in afternoon trading on Monday.

The deal values the pharma business at an enterprise value (EV) of $2.7 billion with an upside component of up to $360 million depending on the company’s FY21 performance. The final amount of equity investment will depend on the net debt, exchange rate and performance against the pre-agreed conditions at the time of closing of the deal, the private equity fund said in a statement.

“Piramal Pharma has built a strong, diversified pharma business with a solid market position and scale in each of its core business segments of Pharma Solutions, Critical Care and Consumer Products,” said Neeraj Bharadwaj, Managing Director at Carlyle Asia Partners. “Given global pharma industry trends,

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Should Value Investors Pick Newtek Business Services (NEWT)?

Value investing is easily one of the most popular ways to find great stocks in any market environment. After all, who wouldn’t want to find stocks that are either flying under the radar and are compelling buys, or offer up tantalizing discounts when compared to fair value?

One way to find these companies is by looking at several key metrics and financial ratios, many of which are crucial in the value stock selection process. Let’s put Newtek Business Services Corp. NEWT stock into this equation and find out if it is a good choice for value-oriented investors right now, or if investors subscribing to this methodology should look elsewhere for top picks:

PE Ratio

A key metric that value investors always look at is the Price to Earnings Ratio, or PE for short. This shows us how much investors are willing to pay for each dollar of earnings in

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GrubHub Got Away, But There Are Other Opportunities to Consider

Uber (UBER) might have missed out on the highly-publicized GRUB acquisition, but there are other opportunities for the ride sharing pioneer.

So believes BTIG analyst Jake Fuller, who highlights three different strategies that “could collectively be worth ~$600 million to annual EBITDA (coincidentally in line with the synergy projected with a GRUB combination).”

Fuller’s first suggestion relates to deconsolidation – basically, the removal of a subsidiary off the balance sheet. Fuller thinks Uber is willing to consider the deconsolidation of its losing self-driving car business, ATG (advanced technologies group). With an 80% stake in a business expected to report a “$400 million-plus annual loss,” wiping it off the balance sheet would require Uber to “solicit additional investment.”

“ATG would need ~$2.6 billion of new capital (UBER bearing all of the dilution) to drop ownership below 50% and deconsolidate. Given the size of the investment required, it’s unlikely

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Here’s what Joe Biden means for markets, business and America

I say Joe Biden has a 50% chance of getting elected in November and if you buy that impartial fact, then it’s probably a good idea to understand what a Biden presidency means for the economy, markets and business. 

This is no small thing. 

If he wants to win, Biden has 136 days to convince the electorate that he can best manage the economy. The candidate has some work to do. While the former Vice President leads in national polls, according to a recent Reuters/Ipsos poll 43% of registered voters said they thought Trump would be a better steward of the economy than Biden, against 38% who said Biden would be better. And a late-May Washington Post-ABC News survey said those polled trusted Trump and Biden in nearly equal measure to oversee the economic recovery. At the very least, Biden does not appear to have an advantage when it comes

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