Goldman Sachs Asset Management Buys Minority Stake in Aragen Life Sciences

Posted on 05/19/2021


Aragen Life Sciences Pvt Ltd (formerly known as GVK Biosciences) is a company that works in discovery, development, and manufacturing solutions. They offer differentiated contract research organization (CRO) and contract development and manufacturing organization (CDMO) solutions for small and large molecules.

The private equity arm of Goldman Sachs Asset Management acquired a significant 33% minority stake in Aragen Life Sciences by acquiring shares previously held by ChrysCapital and other existing shareholders. This values the company at Rs 7,300 crore. Existing shareholder ChrysCapital will sell its 17% stake, while promoters will dilute about 16%.

Aragen Life Sciences serves a worldwide customer base which spans to the United States, Europe, and Japan.

Goldman Sachs is an active investor in India, deploying more than US$ 3.6 billion in capital since 2006. Previous investments in Indian healthcare include Biocon Biologics, BPL Medical Technologies, CyteCare Hospitals, Max India, and Nova Medical Centers.

Goldman Sachs had invested US$ 150 million in Biocon Biologics.

Advisors

Jefferies, Dimensions, and Shardul Amarchand Mangaldas & Co advised company, existing shareholders and ChrysCapital. Trilegal, Herbert Smith Freehills, and Deloitte advised Goldman Sachs.

In 2014, GVK Biosciences acquired Aragen Bioscience, a U.S.-based preclinical CRO specializing in biologics services.

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