Citigroup VC Arm Looks to Sell Stake in Drugmaker

Citigroup Venture Capital International, Partners in Life Sciences and Greek private equity firm Global Finance are looking to sell Turkish drugmaker Biofarma, Reuters reported. Citigroup Venture Capital and Partners in Life Sciences bought the copycat drugmaker for $200 million three years ago, and later sold a stake to Global Finance. Reuters reported that the firms have begun an auction for Biofarma, and that JPMorgan is managing the sale.

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