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GIC affiliate, ADIA unit buy minority stake in US$9b pharma company
Published Thu, Apr 27, 2017 · 09:50 PM
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Singapore
AN affiliate of Singapore's sovereign wealth fund GIC and a subsidiary of the Abu Dhabi Investment Authority (ADIA) have bought a minority stake in Pharmaceutical Product Development (PPD), valuing the pharmaceutical company at US$9.05 billion.
The stake in the United States-based contract research organisation (CRO) was bought from the affiliates of Hellman & Friedman and the affiliates of The Carlyle Group.
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