Fosun, Advent in talks for Symbiotec Pharma stake

Global private equity (PE) fund Advent International and Chinese strategic investor Fosun International Ltd are in separate talks to acquire a controlling equity stake in Indore-based Symbiotec Pharmalab Ltd from existing investor Actis Capital, according to two people privy to the development. “The firm is seeking a valuation of $160 million for the 70% equity stake held by the PE fund,” said one of the persons cited above.