Private equity major, The Carlyle Group, is acquiring animal healthcare company, SeQuent Scientific, and will make an open offer to the existing shareholders. The existing promoters of SeQuent Scientific Limited today announced that CA Harbor Investments, an affiliated entity of CAP V Mauritius Limited and The Carlyle Group has agreed to acquire an equity stake of up to 74% in the company for Rs 86 per share.

This is among the first few deals in the private equity space during the ongoing lockdown. Pursuant to the Securities and Exchange Board of India (SEBI)’s Takeover Regulations, the proposed transaction will trigger a mandatory open offer by CA Harbor Investments and CAP V Mauritius Limited for the purchase of up to 26% equity shares of SeQuent from public shareholders to be identified in the open offer documents.

The transaction is expected to close in the third quarter of 2020, subject to customary closing conditions and regulatory approvals. Following the completion of this transaction, CA Harbor Investments will become the new promoter of SeQuent.