Platinum Equity buys controlling stake in Inventia Healthcare | FinanceAsia

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Invascent’s India Life Sciences Fund III, New York Life Investment Management Jacob Ballas India Fund III, and affiliates of the company’s founding Shah family have all acquired controlling stakes in Inventia Healthcare’s core Oral Solid Dosage ( OSD ) business from private equity firms Invascent’s India Life Sciences Fund III, New York Life Investment Management Jacob Ballas India Fund III, and other companies.

A majority stake in Inventia is still owned by the Shah home. Invengene and Nutriventia, the injectables and nutraceuticals companies, respectively, are certainly part of the transaction and are being retained differently by the Shah home, according to an August 30 press release. &nbsp,

The size of the play or the financial terms of the merger were not made public.

Inventia, which has its headquarters in Mumbai, was co-founded in 1985 by the late president and managing director Janak Shah and Maya Shah, both of whom are now senior directors. For both ordinary and value-added pharmaceuticals, Inventia has around 100 customers who supply both semi-finished and finished OSD formulas. Inventia’s companions include global and local medicine companies that sell in more than 40 countries across North America, South America, Europe, Southeast Asia, Middle East and Africa.

In Maharashtra, India, Inventia runs a production facility in Ambernath and a research and development center in Thane. The company’s manufacturing platform is accredited by the US Food and Drug Administration ( FDA ), the UK’s Medicines and Healthcare products Regulatory Agency ( MHRA ) and other&nbsp, regulatory authorities.

” This investment represents a significant milestone in the evolution of Inventia. In a combined statement released just before Janak Shah’s moving, Maya Shah and the late Janak Shah, both as business owners and long-standing administrators, we are thrilled to discover Platinum Equity investing in our main OSD business.

They added:” This relationship will funnel Inventia’s advantages and Platinum’s operational knowledge to force us to new levels. We are firmly committed to our mission, and we are assured that this partnership will encourage more development and innovation. Our vision for Inventia has always been to deliver high-quality, available medical items, and with Platinum Equity, we believe this vision will only increase stronger”.

The Singapore-based Asia funding team at Platinum Equity is in charge of the acquisition.

In a statement, Platinum Equity managing director Amit Sobti stated,” We believe Inventia is a solid platform for development in a fragmented industry, and our goal is to create a larger, more developed B2B firm focused on the beautiful but underprivileged emerging industry.” &nbsp,

By utilizing our operational and financial resources to further institutionalize the company and prepare it for success on a substantially larger scale, Sobti continued,” We are excited to develop upon the strong base set by the Shah home.” Inventia’s existing product pipeline you generate strong healthy growth over the near future, which we will look to enhance through acquisitions, with an emphasis on broadening the company’s product portfolio and capabilities”.

Kotzubei stated that Platinum Equity will continue to look for program offers in India that are appropriate for the company’s investment strategy in addition to looking for Inventia add-ons.

There are more possibilities available now that fit our approach, he explained, and the buyout market in India is continuing to develop. ” There are more mature businesses that require more operating support, such as founder- or family-owned businesses that are looking for a partner with the ability to provide both operating expertise and capital. We have a lot of knowledge in those conditions”.

Silver Equity acted as Barclays ‘ special financial advisor during the transaction. Along with Trilegal as India’s constitutional representative for Platinum Equity, Lacham Watkins served as Trilegal’s global legal counsel. Kirkland &amp, Ellis provided financing guidance to Platinum Equity on the exchange.

Rothschild &amp, Co and Stifel Nicolaus India ( formerly Torreya Partners ) served as financial advisers to the sellers. Quillon Partners provided constitutional lawyers to the buyers during the transaction.

FinanceAsia has reached out for more details.

¬ Capitol Media Limited. All rights reserved.

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Chinese campaign blames US for Dhaka regime change – Asia Times

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Chinese critics accuse the US government of starting the” color revolution” that started in Bangladesh in July when students took to the streets of the South Asian nation.

Chinese experts criticised the US government for sponsoring activists in Bangladesh for many years without providing any concrete proof for the particular fee. According to them, this philosophy has led to harsh protests in the nation.

They even asserted that the US is putting more effort into destabilizing the Belt and Road nations.

Their comments echoed a recently-published report from the Chinese Ministry of Foreign Affairs that criticized the US National Endowment for Democracy ( NED ) for instigating” color revolutions” in different places including Arabic countries, Hong Kong, Taiwan, Xinjiang and Tibet. &nbsp,

The battle by the Chinese media was scheduled for Tuesday and Thursday before US National Security Advisor Jake Sullivan’s attend to Beijing. During his meeting with Chinese Foreign Minister Wang Yi, Sullivan is anticipated to bring up the issue of China’s support of the Soviet security market. This is the first time a US national security advisor has visited since 2016 does so. &nbsp,

Prior to this, the US Commerce Department’s Bureau of Industry and Security ( BIS ) added more than 400 companies and individuals, including 42 Chinese firms, to its Entity List on August 23 and accused them of supplying electronic parts to Moscow.

The” Bangladesh syndrome”

Shi Panqi, a journalist at Guancha.cn, on August 21 published a remark with the subject” Will the Bangladesh illness spread across the Belt and Road nations”? saying that the US had played a vital part in the regime change, which Shi termed a” color revolution”, in Bangladesh. &nbsp,

He said the Bangladesh symptoms was caused by an imbalance of political power among the community members of the country’s leader, the opposition group, the defense, the public and external causes. He warned that for a disorder may be spread to Afghanistan, Pakistan, Sri Lanka and Nepal.

” The long-term interference of external causes is an important reason for the social upheaval in Bangladesh”, Shi said in his content. Bangladesh must pay the price for its heightened geostrategic worth.

The United States ‘ role in this transition is unmistakable, he wrote, while” What is happening in Bangladesh is a classic example of’a color revolution’. The US and India are unquestionably the most powerful physical forces and the most eager to use their effect in Bangladesh.

Without providing more information, Shi cited the remarks of the Russian Foreign Ministry spokeswoman Maria Zakharova as “evidence” of the United States ‘ involvement in a” color trend” in Bangladesh. &nbsp,

Shi claimed that the US would launch a” color revolution” in Bangladesh if the benefits of the Bangladesh legislative election on January 7, 2024 were in conflict with American demands. She added that the US had attacked the Hasina leadership for its intellectual support. &nbsp,

China’s pursuits in South Asia

In January this month, Bangladesh’s prime minister, Sheikh Hasina, renewed her word after her Awami League won an overall majority in the legislature in local elections. But in July, Bangladeshi pupils and staff held weeks of protests against the Hasina management, which had been in power for about 15 times. &nbsp,

The demonstrations and the government’s assault apparently led to the deaths of 300 persons, the wounds of thousands of people and the detention of around 10, 000 people.

On August 5, Hasina fled the country and resigned. On August 8, Muhammad Yunus, a 2006 Nobel Peace Prize winner, took command as deputy assistant of Bangladesh’s time state. &nbsp,

In an article published last month, Wang Jin, an associate professor and the associate director of the Institute of Middle East Research, Northwest University of China, claimed that a” color trend” broke out in Bangladesh after media reports claimed the nation was looking to use US$ 5 billion to replenish its foreign reserves. &nbsp,

Wang remarked that Hasina had a long-standing, positive relation with China. He claimed that Hasina and Chinese officials signed 20 assistance contracts in Beijing in early July. &nbsp,

Wang claimed that the US did not want to see Bangladesh and China’s political and economic ties grow. He claimed that the US wanted to” color revolution” the Hasina authorities to gain access to proper ships in Bangladesh. Beyond those common problems, Wang did not elaborate on what the US had done in the country.

The government made the decision to convert the Matarbari Port into a deep-sea harbor in 2018, which will be finished by January 2027. Chittagong and Montoya, both of the nation’s ports, were severely crowded and had thin drafts that made them unmanageable. &nbsp,

A Beijing-based critic said in an article published on August 11 that the departure of pro-Beijing Hasina was a win for the United States ‘” color trend” but that such a pattern might harm China’s 70%-owned offshore port project in Kyaukphyu, Myanmar. &nbsp,

The author claimed that the US is expanding its effect in South Asia, but that the Bay of Bengal’s strategic value is also expanding. ” If the US succeeds in supporting a pro-American government in Bangladesh, it may create military bases it, which may threaten China’s maritime transportation pathways”.

In order to resume work on the Kyaukphyu port, Myanmar’s military government and China’s CITIC Group signed an addendum to a concession agreement last December. Due to the pandemic and political unrest in Myanmar, the project had been postponed for 15 years. &nbsp,

criticizing the NED

In recent years, Beijing has repeatedly called out the US for promoting” color revolutions”, including the disintegration of the Soviet Union, the Rose Revolution in Georgia, the Orange Revolution in Ukraine and the Arab Spring.

The National Endowment for Democracy is a US government agency run by” white gloves” operators playing the role of “democracy crusaders,” according to a fact sheet released by the Chinese Foreign Ministry in May 2022, which has undercutted lawful governments and created pro-US puppet forces all over the world. Zhao Lijiang, a spokesperson of the foreign ministry, said the NED is actually the second CIA of the US. &nbsp,

The foreign ministry released a report titled” The NED: what it is and what it does” on August 9 of this year. The report said the NED is now cultivating pro-US forces in target countries, including Russia, Iran, Cuba and Mexico, manipulating elections in Serbia, Nigeria and the Philippines and infiltrating Europe. &nbsp,

The NED has stated on numerous occasions that its main objective is to support like-minded activists in developing new political movements in their home countries. &nbsp,

Read: Walz pragmatism among Chinese experts in the US trade war

Follow Jeff Pao on X: &nbsp, @jeffpao3

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Why are dengue cases on the rise in India, even during non-peak seasons?

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INDIA RISE SINCE 2020

Since 2020, dengue cases have increased rapidly in India. More than 32, 000 cases were reported in the first quarter of 2024, which is nearly twice as many as they were during the same time next year.

The country recorded about 290, 000 cases last month – 50, 000 more than the year before.

The subcontinent’s ongoing rain season, which usually lasts from June to September, has contributed to the increase in infections. In nations like Nepal, Bangladesh, and Sri Lanka, instances have been reported in much higher amounts throughout the year.

According to authorities, global warming is to blame for the longer rainfall time and higher humidity levels.

The Aedes mosquitoes thrives in ideal conditions thanks to the subtropical climate and common waterlogging during the rain season.

Some also cited South Asia’s fast, unregulated urbanization.

Hundreds live in densely populated communities without appropriate water supply, sanitation, or waste management techniques. Mosquitoes can easily reproduce in sluggish water that frequently collects in the streets.

Adarsha Kapoor, an industrial planner, suggested ensuring a constant supply of piped water so that no one needed to keep water in bottles and jars. Places that are prone to waterlogging could also be improved through repair, he added.

However, Ms. Bimla claimed that these methods do not address her and her neighbors ‘ issues right away.

They want authorities to make sure that all years, not just when circumstances rise, are treated for dengue and the drains are covered.

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Deutsche Bank appoints private banking market head for Singapore | FinanceAsia

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Puneesh Nayar, managing director, is joining Deutsche Bank (DB) as market head in Singapore in its private bank, effective August 12. The branch sits within DB’s global South Asia. private bank division.

The Global South Asia business serves non-resident Indian (NRI) clients, and other clients from the sub-continent, from Singapore, Hong Kong, Dubai, Geneva and London.

Nayar (pictured) has over 20 years of industry experience, most recently at Julius Baer where he was a senior team head for global India since 2016. Prior to that, he was the head of non-resident Indians Southeast Asia (SEA) and Middle East at BSI Bank, also in Singapore. Nayar also previously held roles at Coutts Bank and HSBC.

In another move in the same private banking division, in March, Nick Malik rejoined DB as market head, ased in Dubai. Malik returned to DB  this year from Credit Suisse. He was previously group head with DB for six years until 2022, and before that with Standard Chartered Private Bank in Singapore and Dubai. Prior to that, he was a senior advisor at Coutts’ in Singapore and the United Kingdom.

Both Nayar and Malik will report to Rajesh Mahadevan, DB’s head of Global South Asia & Africa, private bank emerging markets.

Mahadevan commented in a media release: “Our Global South Asia & Africa business is a market leader in this segment and a strong business pillar within our emerging markets franchise. DB’s global connectivity, balance sheet strength, combined with our corporate bank and investment bank offering gives our clients access to bespoke lending, banking and capital market solutions.”

Mahadevan added: “Puneesh and Nick’s breadth of experience and deep understanding of this client segment will further cement our market position as we broaden client coverage across core markets in Asia and the Middle East.”

For more FinanceAsia people moves click here. 


¬ Haymarket Media Limited. All rights reserved.

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Commentary: People power has won in Bangladesh, for now

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The good times did n’t last. A combination of the epidemic and financial&nbsp, mismanagement&nbsp, took their toll on the emerging market, and two years ago it reached out to the International Monetary Fund and other foreign creditors to reduce decline.

It’s the&nbsp, third country &nbsp, in the region, after Sri Lanka and Pakistan, forced to knock on the International Monetary Fund’s ( IMF) &nbsp, door in recent times. All the&nbsp, volatility is adding to uncertainty in South Asia.

Not just the financial situation was the problem. The political protests over the last quarter have been a lightning rod for a wide range of problems from severe poverty to a failing private sector, Lutfey Siddiqi, visiting professor&nbsp, at the London School of Economics ‘&nbsp, international coverage think tank, told me.

” There’s also anger at the sheer lack of empathy and condescension with which Hasina has &nbsp, responded to those worries”, he said.

Despair WITH HASINA’S Federal

The prime minister ‘s&nbsp, ruling Awami League has most recently&nbsp, been in authority since&nbsp, 2009, but elections have &nbsp, been often boycotted by the opposition, and widely&nbsp, condemned&nbsp, as being poorly free and fair.

She capitalised on&nbsp, a storied legacy&nbsp, as the daughter of Sheikh&nbsp, Mujibur&nbsp, Rahman, Bangladesh’s foundation parents, going on to become the world’s longest-serving sexual president, but in recent years has clamped down on media freedom&nbsp, and quashed&nbsp, public debate. The incompetence of the economy simply exacerbated the issues. &nbsp,

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Imran Khan: A year in jail but still dominating opposition figure

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Getty Images Pakistan's former Prime Minister, Imran Khan (R) along with his wife Bushra Bibi (L) looks on as he signs surety bonds for bail in various cases, at a registrar office in the High court, in Lahore on July 17, 2023Getty Images

Imran Khan, the former prime minister of Pakistan, has been imprisoned for a time, though there are times when you can hardly tell.

Mr Khan is still the strong force of Pakistan’s opposition politicians, his label still in the paperwork and the courts. His social internet followers have been unrelenting.

The few people who are often allowed to see the former cricket star have evolved from his personal contacts to the outside world, with only his household and lawyers. They want to spread the message that he has been unpaid for his 365 days in jail.

” There is still a cockiness about him”, Aleema Khanum, Imran Khan’s girl, says. ” He’s got no wants, no wants- only a reason”.

According to those who visit him, Mr Khan spends his days on his workout cycle, reading and reflecting. He spends an hour walking in the yard each day. There have occasionally been disagreements over how fast the family can get him fresh books.

” He has said’ I’m not wasting a moment of my time in jail, it’s an option for me to find more information ‘”, Ms Khanum tells the BBC.

However, Mr. Khan and his family Bushra Bibi are also imprisoned and have no indication when they will be released.

According to some, this is not a wonder.

Reuters Imran KhanReuters

According to Michael Kugelman, director of the South Asia Institute at the Wilson Center think reservoir in Washington,” there was no desire that Mr. Khan would do anything that would make it simple for him to get out of jail.”

And the defense- Pakistan’s strong behind-the-scenes gamer- “do n’t comfortable up when they decide there’s a political find that they want to switch up”, says Mr Kugelman. ” That is especially the case with Khan,” he says.

However, the government has been vital to many of the ups and downs of Mr Khan’s living in the last century. Some analysts believe that his first support for the defense establishment contributed to his ascendancy.

But by 9 May last time, that was in shambles. Mr. Khan’s followers staged a protest after he was ousted from office in a vote of no confidence in 2022.

In some of those demonstrations, violence was elicited and there were fires at military installations, including the most mature military official’s official residence in Lahore, which was set on fire.

In the aftermath, BBC sources said Pakistan’s media companies had been told to stop showing his picture, saying his name or playing his voice.

Mr. Khan was let go, but only for a short while.

He was jailed once more on August 5th for making errors in how to properly consider the purchase of express gifts.

Getty Images Parliamentarians of the Pakistan Tehreek-e-Insaf (PTI) party, carry posters of jailed former prime minister Imran Khan, during a protest outside the Parliament house in Islamabad on July 18, 2024Getty Images

In the run-up to the vote, the circumstances against him mounted, by the start of February- only weeks before the voting- the 71-year-old had acquired three long jail sentences, the last for 14 years.

By the election, many of the candidates standing for Mr Khan’s PTI party were also in prison or in hiding, the party stripped of its well-recognised symbol of a cricket bat – a vital identifier in a country with a 58% literacy rate.

Despite this,” we were determined and wanted to make a declaration”, Salman Akram Raja, Mr Khan’s attorney and a candidate in the election, says.

” It was very constrained, many could n’t campaign at all. The system blow caused the sign for a cricket bat to disappear.

All applicants stood as centrists, but hopes- even within the gathering- were n’t higher.

However, Imran Khan’s political rivals forged an alliance to prevent them, despite having won more votes than anyone else. The PTI, however, was left to fight for many of their chairs in judge, alleging the results were skewed.

Supporters see the election of February 8 as a turning level, proof of Mr. Khan’s powerful message, yet from detention centers.

” There is a change, that was expressed on 8 February”, says Aleema Khanum. ” Change is coming, it is in the weather”.

Others say that practically, the result has n’t changed the status quo.

” We are definitely where we might hope to be given prior precedent”, Mr Kugelman says.

“PT I did n’t form a government, its leader is still in jail and the coalition in power is led by parties backed by the military”.

But more recently, things have definitely seemed to be looking away for Mr Khan and his followers.

Getty Images Former first lady Bushra Bibi (R) and Former Prime Minister Imran Khan (L) arrive to appear on court before the Lahore High Court in a corruption case, in Lahore, Pakistan, on May 15, 2023Getty Images

A panel of experts from the United Nations declared his confinement to be arbitrarily, and Pakistan’s supreme court ruled that PTI was an established party and does get “reserve seats,” which are seats assigned to women and non-Muslims based on the proportion of seats the party has won.

None have yet had a practical impact because Mr. Khan is still behind bars and has n’t received any reserve seats.

His wife Bushra Bibi is also facing new costs, including the addition of her jail sentence, which was overturned when the appeal for their wedding was overturned.

The government has also made it clear that it views Mr. Khan and his group as a threat to the general public. Despite receiving instructions from organizations like the Pakistani Human Rights Commission, it made it known earlier this month that it plans to try to outlaw PTI.

Additionally, there is no evidence that the war has changed. There would be no compromises with the “planners, mediators, and executioners” and they would not be permitted to “hoodwink the law of the land,” according to a declaration from the organization’s public relations flap on the 9 May celebration of this year.

Most experts believe that Mr. Khan really needs to clean out his transition to freedom from prison.

” I think we can come up with an agreement that gives people a way out and allows the system to function”, says Khan’s solicitor, Mr Raja.

However, from jail, Mr Khan has been delivering his personal information. According to Alekseema Khanum, who has told the military to” be neutral… let this state work,” the core of Pakistan is now known as the “backbone of Pakistan.”

Some commentators have criticized it as an olive tree, but some have pointed out that the use of the term natural was appropriate given that the army had recently declared itself balanced by taking sides in politics. He ridiculed the phrase, saying “only an animal is neutral”;

Some people believe that his recent request for immediate elections constitutes one of his obligations to the military.

” I do n’t think that’s very realistic”, says Mr Kugelman. ” Over time, Khan may relent a bit. It is one of the truisms of Pakistani politics: if you want to be prime minister you need to be in the good graces, or at least not the bad graces, of the military”.

For now at least, the stalemate continues.

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Bangladesh: Dozens of children killed in protests – Unicef

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Getty Images Protesters hold placards during the demonstration outside the High Court building demanding justice for the victims arrested and killed in the recent countrywide violenceGetty Images

At least 32 children have died during scholar protests that engulfed Bangladesh last month, the UN’s children’s company has said.

According to a Unicef director, the youngest child who died was still in his fifth year of birth, adding that the majority of the victims were spectators.

According to statistics provided by BBC Bangla, they were one of more than 200 individuals who were killed in civil service demonstrations against work restrictions.

The quota system has now been scaled back by the government following a Supreme Court ruling, but students have continued protesting – now demanding justice for those who died or have been injured or detained.

The state is struggling to contain the rising tide of rage over how it first handled the demonstrations, despite the smaller scale of the protests.

Why are our boys buried in the murders ‘ yards and the murders hiding out? asked a group which had gathered outside the largest dome in Dhaka, the capital of Bangladesh, following Friday prayer, according to the AFP news agency.

According to Reuters news organization, safety makes responded to the tens of thousands of people strewn with rubber bullets and tear gas. It reported that at least 20 people were injured.

Unicef’s regional director for southern Asia, Sanjay Wijesekera, acknowledged that he had been informed of information of children being detained while on a trip to Bangladesh this year.

He continued, claiming that the organization had declared” a horrible reduction” of the 32 deaths.

One child under five and one infant between six and twelve were among the most fatalities, according to a UN agency spokesperson.

” Kids must be protected at all times”, Mr Wijesekera said. ” That is one’s duty”.

Mohammad Ali Arafat, the government’s young information minister, responded that there is no data on the death toll from Unicef.

” We do n’t know where they] Unicef ] got the numbers from”, he told the BBC, adding:” Our position is clear: Whoever has been killed, we are going to investigate and bring the perpetrators to book”.

According to specialists who spoke to the BBC, many of the dead and injured suffered gunshot wounds as a result of security forces ‘ use of excessive force to halt the first protests.

However, the government has attributed the unrest to political critics, who have claimed a number of police officers were killed as well.

On Thursday, it banned the government’s major Islamist gathering- Jamaat-e-Islami and its student aircraft, Islami Chhatra Shibir- which it claimed was behind some of the violence.

” We have proof that they have participated in the deaths and in the loss of government and private parameters”, Anisul Huq, Bagladesh’s law secretary, told the BBC.

The opposition group’s chief described the proceed as “illegal, illegal and unconstitutional”.

EPA Bangladeshi police detain a protester during a demonstration in front of the Supreme Court in Dhaka, Bangladesh, on 31 July.EPA

According to officials, the scholar protest’s leaders were also taken for a week for their own safety. However, their discharge on Thursday has done much to soften the anger.

The kids questioned the conditions of their confinement in a mutual statement released on Friday.

The group alleged “harassment, rape and crisis” towards them and their families during their seven nights of confinement.

The statement called on people to continue taking to the streets and said,” No one is safe in the prison of those who kill armed students and individuals.”

Since the authorities began cracking down on the rallies, apparently, almost 10,000 people have been detained.

However, the student officials’ statements Mr. Arafat refrained from refuting.

He claimed that because the government was conscious of a possible threat to their lives, the authorities were forced to detain the scholar leaders.

” Their defense became our best priority”, he added.

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