Former Blackstone Dealmaker Cyriac to Buy Zim Labs Stake

Mathew Cyriac. (Photo: Florintree Advisors)

Former Blackstone Dealmaker Cyriac to Buy Zim Labs Stake

Bookmark

Mathew Cyriac, who was previously one of Blackstone Group Inc.’s top India dealmakers, has agreed to buy a stake in Indian pharmaceutical company Zim Laboratories Ltd., people with knowledge of the matter said.

Cyriac, who now runs investment firm Florintree Advisors, is purchasing the 22% stake held by AA Development Capital India Fund 1 LLC, according to the people. He is set to pay around 300 million rupees ($4 million) for the shares, the people said, asking not to be identified because the information is private.

Shares of Zim Laboratories have risen 29% this year, giving the company a market value of about $25.5 million.

AA and Cyriac didn’t immediately respond to emailed queries. Zim Laboratories Chairman Anwar Daud didn’t immediately respond to a request for comment.

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.