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AV Birla Group Plans to Acquire Biotech Company

May 16, 2005

The AV Birla group is keen on acquiring a biotech company and is likely to close a deal in the next three months. The Rs 30,000-crore conglomerate wants to get into the sunrise biotech sector, and it hopes to get a headstart by acquiring a smaller niche product company in the field, preferably a start-up. According to highly-placed sources, the group has been in talks with some companies, both in the US and in India.

The Economic Times (http://economictimes.indiatimes.com/articleshow/1111124.cms)