The healthcare company made a 52% profit from the sale of its 11% stake, originally acquired in 2012, back to Vodafone for $1.48bn.
India-based healthcare group Piramal Enterprises is set to make a 52% profit from the Rs 89bn ($1.48bn) sale of its 11% stake in UK-based telecommunications company Vodafone’s Indian business.
Piramal acquired the stake in two tranches in fiscal 2012 for 58.6bn ($973m). The sale means Vodafone will take full ownership of Vodafone India, once it has also bought businessman Analjit Singh’s 4.5% share.
“The equity purchase in Vodafone was consistent with our objective of making investments that offer opportunity to…
