(Bloomberg) -- Mankind Pharma Ltd. has picked Barclays Plc and Deutsche Bank AG to help arrange financing for its proposed 138 billion rupees ($1.6 billion) acquisition of Bharat Serums & Vaccines Ltd., according to people familiar with the matter.
The lenders will provide loans for the acquisition and help with organizing a rupee-denominated bond sale, said the people, who asked not to be identified as the information is private. Mankind may also consider a potential share sale and use some of its own cash to fund the acquisition, the people said. Deliberations are ongoing and no final decisions have been made, they added.
Barclays and Deutsche Bank declined to comment while Mankind Pharma didn’t reply to an email seeking comment.
Mankind Pharma, which has brands including Manforce condoms and Prega News pregnancy tests, signed definitive agreements to buy Bharat Serums at an enterprise value of about $1.6 billion, the drugmaker said in an exchange filing Thursday.
Founded in 1971, biopharmaceutical company Bharat Serums has a research and development center in Mumbai with over 100 scientists and operations that cover more than 70 countries, as well as subsidiaries in Germany, the Philippines and the US, according to its website.
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