NEW YORK (March 29): The two buyout firms that own Pharmaceutical Product Development (PPD) are in advanced talks to sell minority stakes in the US clinical trials firm to investors that include Singapore's sovereign wealth fund GIC and Abu Dhabi Investment Authority.

The sale would be at a price that would value the entire company at more than US$9 billion ($12.58 billion), including debt, people familiar with the matter said.

The deal would see PPD's owners, Carlyle Group and Hellman & Friedman, continue to control the company jointly, the people said. Carlyle currently owns 60% of PPD and Hellman & Friedman owns 40%, with the two sharing governance rights.

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