Adar Poonawalla-led Serum Institute has finalized a deal to sell a 30%-40% stake in SCHOTT Poonawalla to TPG Growth, valuing the joint venture at approximately $800 million. SCHOTT Poonawalla, a 50:50 partnership with SCHOTT Pharma AG, specializes in primary glass packaging for the pharmaceutical and biotech industries. The transaction is pending a few formalities.
Adar Poonawalla-led Serum Institute of India is in advanced talks with TPG to sell a 40% stake in SCHOTT Poonawalla, a joint venture focused on primary glass packaging for the pharma and biotech sectors. The discussions aim to unlock value from Serum's investment made over three years ago, though a final agreement is not guaranteed.
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