DIRECT CAPITAL ACQUIRES 51% OF NZ PHARMACEUTICALS

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Leading private equity firm Direct Capital has acquired a shareholding of 51% in New Zealand Pharmaceuticals (NZP), which produces specialty chemicals for some of the world's leading pharmaceutical and biotechnology companies. Direct Capital's investment has been completed from its DCPIII and Pohutukawa private equity funds and from BioPacificVentures (BPV), allowing Direct Capital to combine its traditional private equity strength with BPV's specialist industry expertise.

Scoop (http://www.scoop.co.nz/stories/BU0511/S00409.htm)