The Carlyle Group completed the acquisition of a 20% stake in Piramal Pharma, the pharmaceutical business of Piramal, a diversified global business conglomerate, for c.$481m. “We are pleased to announce the strategic growth investment by Carlyle, a marquee global investor, in Piramal Pharma. This infusion of funds will further strengthen our balance sheet and provide us with a war chest for the next phase of our strategy. We are pleased to have an investor of this calibre join the Piramal family and continue our stellar track record of partnerships,” Ajay Piramal, Piramal Enterprises Chairman.