| | SEPTEMBER 20238Bain Capital, a US buyout firm, has approached Dr Reddy's Laboratories (DRL) about a joint bid to buy out Cipla's promoters, the Hamied family.According to people familiar with the situation, senior leadership from both sides met last week with their advisors to discuss and formalise a strategy.As per sources, Bain Capital is one of the private equity (PE) funds with which Torrent has been in talks to raise up to Rs 8,300 crore ($1 billion) as part of its financing plan for a potential $7 billion-plus buyout, the largest ever in India.If DRL decides to participate, it will not only improve Cipla's competitive bidding landscape, but the combined entity will also become the leading Indian-origin pharma major at home, with a consolidated market share of 8 percent (based on June 2023 Indian Pharma Market data).It will also be the leading Indian generic player in the US and emerging markets. Such a company would be a formidable rival to Sun Pharma, the most valuable Indian player with a market capitalisation of 2.65 lakh crore. Mukta Maheshwari has been appointed as the Company's Chief Marketing Officer (CMO) effective September 1, 2023, by Procter & Gamble India, the maker of brands such as Ariel, Whisper, and Gillette.Mukta will oversee the Fabric Care Category for P&G India in addition to leading the Marketing function. She brings over two decades of work experience with her. She joined P&G in Singapore in 2007 and has since worked across five brands in three countries. Mukta served as the Vice President, Fabric Enhancers in the ASEAN region, based in Singapore, prior to assuming her new role as the CMO and Fabric care Category Head, and was instrumental in delivering double digit top and bottom line growth for Downy in ASEAN.This was made possible, among other things, by her spearheading the launch of the Downy Natural Essential oil scents range.Mukta Maheshwari, Chief Marketing Officer and Vice President & Category Head - Fabric Care, P&G India, stated, "I am thrilled to begin the next phase of my journey with P&G and return to India, after having the opportunity to work across multiple roles in the region, including Singapore and the Philippines." P&G's philosophy of touching and improving people's lives truly resonates with me, and I am grateful that my new position will allow me to continue striving to positively impact our consumers, communities, and people.India continues to be an important market for P&G globally, as we continue to delight the consumers with our superior brands. These are exciting times, and I look forward to contributing to the growth of P&G in India, together with our people who are the backbone of this resilient and empowered organization." BAIN CAPITAL AND DR.REDDY LABORATORIES TO JOINTLY BUY STAKE FROM CIPLA PROMOTERSMUKTHA MAHESHWARI APPOINTED AS CHIEF MARKETING OFFICER OF PROCTER & GAMBLE INDIAIN FOCUSIN FOCUS
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