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Watch billionaire industrialist, Ajay Piramal at the BI Global Trends Festival

Gain a better understanding of how COVID-19 has impacted business around the world. Join us for the inaugural Business Insider Global Trends Festival, a five-day virtual event with more than 60 hours of content. We're bringing together business leaders from Asia, Europe, the US, and the UK onto four virtual stages for a truly global perspective. From live talks to dedicated workshops, the week's programming will be insightful, thought-provoking, and surprising — and accessible from your office or home office.<h2>Buy tickets for the event <a href="https://trendsfestival.com/en/tickets-for-trends-festival.html?utm_source=tf_usa&amp;utm_medium=referral&amp;utm_campaign=ticketn=ticket">here.</a></h2>This year's speakers are experts in their fields, and more are signing up to participate every week, so watch this space for updates. Check out the lineup so far:<ul><li>Reed Hastings, CEO and co-founder, Netflix</li><li>Nouriel Roubini, Economist</li><li>Blake Chandlee, Vice President-Global Business Solutions, TikTok US + EU</li><li>Sebastian Thrun, Founder, Udacity; Founder, Google X</li><li>Wolfgang Ischinger, Chairman, Munich Security Conference</li><li>Prashanth Chandrasekar, CEO, Stack Overflow</li><li>Adena T. Friedman, President and CEO, NASDAQ, Inc</li><li>Robert Lewandowski, Footballer, investor and UNICEF Goodwill Ambassador</li><li>Michael Miebach, President and CEO-Elect, Mastercard</li><li>Jennifer Jordan, Professor of Leadership and Organizational Behavior, IMD</li><li>Shéhérazade Semsar-de Boisséson, CEO, POLITICO.EU</li><li>Poppy Gustafsson, CEO, Darktrace</li><li>Sergio P. Ermotti, CEO, UBS Group</li><li>Carlos Watson, CEO and co-founder, OZY Media </li><li>Alexa von Bismarck, Country Manager Germany, Adyen</li><li>Christoph Franz, Chairman of the Board of Directors, Roche Holding</li><li>Mathias Döpfner, CEO, Axel Springer SE</li><li>Audrey Tang, Digital Minister, Taiwan</li><li>Alain Dehaze, CEO, Adecco Group</li><li>Marc Walder, CEO, Ringier AG</li><li>Prof. Marcel Salathé, Epidemiologist</li><li>Philip Vanhoutte, Founder, Ozadi</li><li>Jean-Francois Manzoni, President, IMD in Lausanne</li><li>Felix Oberholzer-Gee, Strategy Professor, Harvard Business School</li><li>Bob Dignen, Director, York Associates</li><li>Ritesh Agarwal, Founder and CEO (group), OYO Hotels &amp; Homes</li><li>David Folkerts-Landau, Group Chief Economist, Deutsche Bank</li><li>Dr. Friedrich von Bohlen und Halbach, Managing partner and co-founder, Hopp BioTech Holding GmbH &amp; co. KG.</li><li>Hannes Schmid, Photographer, Philanthropist, Founder of Smiling Gecko</li><li>Christian Lindener, Head of Airbus BizLab</li><li>Deepak Parekh, Chairman, HDFC Ltd. </li><li>Roksana Ciurysek-Gedir, Founder of Possible X</li><li>Geoff Ramsey, Chief Evangelist Officer, Co-Founder, Insider Intelligence</li><li>Shinichiro Isago, Director of AI, LINE</li><li>Ajay Piramal, Chairman, Piramal Group</li><li>Koen Gonnissen, Partner, Coach and Trainer, Mentally Fit</li><li>Ray Dalio, Founder, Co-CIO, Co-Chairman of Bridgewater Associates</li><li>Laura A. Hambley, President, Co-Founder of EvOHlution</li><li>Mukesh Aghi, President and CEO, USISPF</li><li>Markus Krebber, CFO, RWE</li><li>Tarek Müller, Co-founder and Co-CEO, ABOUT YOU</li><li>Arndt Rolfs, Founder and CEO, CENTOGENE</li><li>Kristin Peck, CEO, Zoetis</li><li>Mark Mader, President and CEO, Smartsheet</li><li>Nassim Nicholas Taleb, Former Trader, Risk Specialist and Best-Selling Author</li><li>Özgür Burak Akkol, Chairman of the Board, President of the Turkish Employers' Association of Metal Industries (MESS)</li><li>Seiko Noda, Chairperson of the Committee on Budget, Member of the House of Representatives</li><li>Takuya Miyata, Founding Partner, Scrum Ventures</li><li>Werner Baumann, Chairman of the Board Management, Bayer AG</li><li>Boyan Slat, CEO and Founder, The Ocean Cleanup</li><li>Panos Panay, Microsoft Chief Product Officer</li><li>Shin Murakami, Japan Country Manager, LinkedIn</li><li>Nick Bloom, Professor of economics, Stanford University</li><li>Keiko Hamada, Executive Editor-in-Chief, Business Insider Japan</li><li>Niklas Östberg, Co-Founder and CEO, Delivery Hero</li><li>Shada Islam, New Horizons Project</li><li>Philipp Peitsch, Managing Director, Idealo</li><li>Mark T. Maybury, CTO, Stanley Black &amp; Decker</li><li>Markus Duesmann, CEO, AUDI</li><li>Claudia Kessler, Visionary Founder Space Ambassador, CEO Astronautin GmbH</li><li>Ester Asin, Director for WWF's European Policy Office</li><li>Brunon Bartkiewicz, CEO, ING Bank Śląski, Poland</li><li>Marcin Lewenstein, InnoEnergy Innovation Officer, Thematic Field Leader-Energy for Circular Economy</li><li>Richard Mosley, Employer Brand Author and Chief Strategist, Universum</li><li>Tom Hidvegi, Creative Strategy Director for Coca-Cola, Central and Eastern Europe</li><li>Dariusz Mazurkiewicz, President of the Management Board, BLIK</li><li>Anna Brussa, Design Partner, EIT Climate-KIC</li><li>Lee Olesky, CEO, Tradeweb <keyword id="31671" type="CITY" weightage="60" keywordseo="markets">Markets</keyword> Inc.</li><li>Dorian Gorr, Co-founder, Veritas Entertainment</li><li>Stav Erez, Partner, Labs/O2</li><li>Filip Thon, CEO, Innogy Polska S.A.</li><li>Beata Mońka, Business Partner, Business Partnering Solutions, Ringier Axel Springer Polska</li><li>Satoshi Sugie, CEO, WHILL Inc.</li><li>Hiltrud Dorothea Werner, Member of the Board of management of Volkswagen AG for Integrity and Legal Affairs</li><li>Ugur Sahin, Co-founder, BioNTech</li><li>Romanus Otte, Editor in Chief and Managing Director, Business Insider Deutschland GmbH</li><li>Inga Michler, Journalist, Writer</li><li>Leonard Stiegeler, Founder of Pulse</li><li>Sohn Young, Corporate President and Chief Strategy Officer, Samsung Electronics, and Chairman of the Board for HARMAN</li><li>Phil Graves, Vice President, Corporate Development at Patagonia</li><li>Maximillian Jell, Head of Regulatory Affairs and Reduced Risk Products</li><li>Lukas Stricker, CEO of Gravity Global AG</li><li>Nikolay Kolev, Managing Director of WeWork</li><li>Brian Brackeen, General Partner, Lightship Capital</li><li>Lyinoluwa Aboyeji, General Partner oand Co-founder of Future Africa</li><li>Stuart Kronauge, Chief Marketing Officer at Beyond Meat</li><li>Manny Maceda, Worldwide Managing Partner of Bain &amp; Company</li><li>Krijn de Nood, CEO and co-founder, Meatable</li><li>Carlos Nueno, President International, Teladoc Health</li><li>Marek Andryszak, CEO, TUI Deutschland</li></ul>

Announcing BI Global Trends Festival 2020 speakers: Don't miss Reed Hastings, Carlos Watson, Nouriel Roubini, Jennifer Jordan, and more!

(Eds: Adding details) New Delhi, Jun 27 () The US-based global investment firm Carlyle Group Inc will buy 20 per cent stake in Piramal Pharma for around USD 490 million (over Rs 3,700 crore), a statement said on Saturday. The capital raise will accelerate Piramal Pharma's organic and inorganic growth plans, the Ajay Piramal-led Piramal Enterprises and Carlyle Group said in the joint statement. "... CA Clover Intermediate II Investments, an affiliated entity of CAP V Mauritius Ltd, an investment fund managed and advised by affiliated entities of The Carlyle Group Inc has agreed to invest fresh equity capital for a 20 per cent stake in Piramal Pharma Ltd...," it said. The transaction values the pharma business at an enterprise value (EV) of USD 2.775 billion (over Rs 20,980 crore), with an upside component of up to USD 360 million (over Rs 2,720 crore) depending on the company's FY21 performance, the statement said. "Based on the EV (excluding the upside component), exchange rate and pharma net debt as on March 31, 2020, the estimated equity capital investment for Carlyle's 20 per cent stake in Piramal Pharma would amount to USD 490 million (over Rs 3,700 crore)," it added. The final amount of equity investment will depend on the net debt, exchange rate and performance against the pre-agreed conditions at the time of closing of the deal. The transaction is expected to close in 2020, it added. "This is an affirmation of the strength of our ability to build new, attractive and scalable businesses with a significant runway for continued organic growth and opportunities for consolidation," Piramal Enterprises Chairman Ajay Piramal said. This infusion of funds "will further strengthen our balance sheet and provide us with a war chest for the next phase of our strategy," he added. Asked about the stake Piramal Enterprises will hold in the company post the transaction, Ajay Piramal told it will have 80 per cent stake. On whether Piramal Enterprises Ltd (PEL) will list Piramal Pharma going forward, he said: "We have publicly stated in the past, that in the medium term we will separate the two PEL businesses. This is a step closer towards that endeavour." PEL has two businesses -- pharma and financial services. Piramal Enterprises Executive Director Nandini Piramal said, "This fresh growth investment into our pharma business will be used as growth capital for the pharma businesses to expand capacity across our sites as well as to tap attractive acquisition opportunities within and outside India." "In the interim, the proceeds from this capital raise may also enable us to further strengthen our balance sheet through deleveraging in the near term," she added. Carlyle Asia Partners advisory team MD Neeraj Bharadwaj said Piramal Pharma has built a strong, diversified pharma business with a solid market position and scale in each of its core business segments of pharma solutions, critical care and consumer products. "Given global pharma industry trends, we see attractive opportunities for organic as well as inorganic growth in each of these businesses," he added. In similar vein, Carlyle Asia Partners advisory team Co-Head Greg Zeluck said, "This investment marks the beginning of an important partnership with the Piramal family, and further underscores our commitment to the Indian market." Carlyle has a history of investing in the healthcare sector, both in India and globally. It had in May announced a majority stake investment in Indian animal healthcare firm SeQuent Scientific, which is expected to close in the third quarter of 2020, the statement said. It has also made investments in Medanta Medicity Hospital, and diagnostic chain Metropolis Healthcare, among others in the Indian healthcare sector. Rothschild &amp; Co served as financial advisor and Cyril Amarchand Mangaldas and Covington &amp; Burling LLP served as legal advisors to Piramal Enterprises Ltd on this transaction. JP Morgan served as financial advisor and AZB &amp; Partners and White &amp; Case served as legal advisors to Carlyle. AKT ABM ABM

Carlyle Group to buy 20 pc stake in Piramal Pharma for over Rs 3,700 cr

<keyword id="3227612" type="UNKNOWN" weightage="100" keywordseo="Burjis-Godrej">Burjis Godrej</keyword>, the customer support Asian development specialist at Conservis has a surname that surely makes people ask him if he is related to the Godrej family, the one that owns the <keyword id="113571" type="CITY" weightage="100" keywordseo="Godrej-Industries">Godrej Industries</keyword>. He is, in fact, the son of Nadir Godrej (MD, Godrej Industries). 
 Similarly, when Mukesh Ambani's daughter <keyword id="617730" type="PERSON" weightage="100" keywordseo="Isha-Ambani">Isha Ambani</keyword> worked at <keyword id="6372399" type="COMPANY" weightage="100" keywordseo="McKinsey">McKinsey</keyword> &amp; Co before joining the family business, she surely would have been the topic of many coffee break discussions that her colleagues would have had. 
 <keyword id="130464" type="PERSON" weightage="100" keywordseo="Lakshmi-Venu">Lakshmi Venu</keyword>, daughter of Venu Srinivasan (<keyword id="190592" type="COMPANY" weightage="100" keywordseo="TVS-Group">TVS group</keyword>), <keyword id="192486" type="PERSON" weightage="100" keywordseo="Nandini-Piramal">Nandini Piramal</keyword>, daughter of Swati and Ajay Piramal (<keyword id="6397591" type="PERSON" weightage="100" keywordseo="Piramal-Enterprises">Piramal Enterprises</keyword>); <keyword id="114302" type="PERSON" weightage="100" keywordseo="Radhika-Piramal">Radhika Piramal</keyword>, the daughter of Dilip Piramal (<keyword id="114305" type="COMPANY" weightage="100" keywordseo="VIP-Industries">VIP Industries</keyword>) and <keyword id="389611" type="PERSON" weightage="100" keywordseo="Anant-Goenka">Anant Goenka</keyword>, the son of Harsh Goenka (RPG Enterprises); all these kids belong to reputed business families of India, but what binds them is the fact that they chose to be trained in companies not belonging to their families. 
 There seems to be a growing appeal in the trend of working outside the family business, outside the country. While they have a lot of options to go to, they prefer global consulting companies like McKinsey, Bain, <keyword id="6370971" type="CITY" weightage="100" keywordseo="Accenture">Accenture</keyword> and <keyword id="6358918" type="PERSON" weightage="100" keywordseo="Deloitte">Deloitte</keyword> to be groomed for leadership. They also feel more comfortable in working at companies outside India so that they can get real-world experience and boost their learning trajectory. It also seems apt, because these scions would get special treatment at their own companies and a lot of unwanted attention if they work outside their companies but in the same county; working outside prevents this. 
 
“Besides, the bias of being unfairly judged is removed. And, global consulting companies and banks are known for quality, speed of work and accelerated learning on assignments,” SV Nathan, senior director and chief talent officer at Deloitte in India, told ET.

Indian business family scions like it better to work with foreign firms for global exposure

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Watch billionaire industrialist, Ajay Piramal at the BI Global Trends Festival

Business Insider India

Announcing BI Global Trends Festival 2020 speakers: Don't miss Reed Hastings, Carlos Watson, Nouriel Roubini, Jennifer Jordan, and more!

Business Insider

Carlyle Group to buy 20 pc stake in Piramal Pharma for over Rs 3,700 cr

PTI

Indian business family scions like it better to work with foreign firms for global exposure

BI India Bureau

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