PAG, a Hong Kong-based private equity firm, has agreed to buy a stake in Acme Formulation, an Indian pharmaceutical company.
As part of the transaction, PAG will invest 1,054 crore rupees (approximately $145 million) to acquire a controlling stake in Acme Formulation.
PAG is currently investing out of its $6 billion PAG Asia III buyout fund, with a strong commitment to investing in the Indian market since 2019.
Following the Acme acquisition, PAG will have completed investments of more than half a billion dollars in India.