India-based pharmaceutical packaging firm Cogent Glass has announced that US-based investment firm Oaktree Capital Management acquired a majority stake of 60% in the company for INR2bn ($34.06m).
Oaktree’s investment in Cogent will enable it to enter into the Indian pharmaceutical packaging market.
French manufacturer of glass for pharmaceutical and cosmetics industry and one of the portfolio firms of Oaktree SGD has agreed to extend technology and marketing support to Cogent Glass.
The investment firm has $80bn assets under management and a global portfolio of companies with several investments in the packaging sector.
Cogent Glass manufactures molded type and tubular glass vials and ampoules.