Sterling Biotech eyes overseas acquisition

By siliconindia staff writer   |   Thursday, 21 October 2004, 07:00 Hrs
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MUMBAI: Pharmaceutical grade gelatin manufacturer Sterling Biotech has appointed Rabo India Finance as its advisor to identify and arrange acquisition opportunities in the European market.

Rabo India Finance has also extended a 400 million ($8.75 million) long-term funding facility to Sterling Biotech, which is among the top five manufacturers of pharmaceutical grade gelatin in the world, an official release said Wednesday.

"We will be working with the research team of a leading German bank specialising in distinct niche and emerging sectors, including life sciences and biotechnology, to identify the best opportunities for Sterling Biotech," said Sanjiv Bhasin, CEO of Rabo India.

The German bank Rabo India will work with its parent company Rabobank Nederland.

Rabo India Finance has inked a strategic alliance with Rabobank Nederland to tap the growing number of cross border mergers and acquisitions between life sciences companies of both countries.

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