Announced
Financials
Sources
Tags
Cross Border
Acquisition
Minority
Private Equity
Australia
drug development
provides phase i-iv clinical trial
clinical research organization
Pharmaceuticals
Private
Friendly
Pending
Single Bidder
Synopsis
Sequoia Capital, an American venture capital firm, and GIC, a Singapore sovereign fund, agreed to acquire a 10% stake in Novotech, a clinical research and testing provider, from TPG, a private equity firm, for $2.3bn. “Novotech is a platform asset for us in Asia and a testament to the sector-led strategy we have pursued in differentiating ourselves from other sponsors,” Joel Thickins, TPG Capital Head of Australia and New Zealand.
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