Cipla arm completes acquisition of South Africa-based firm
New Delhi : Drug firm Cipla said it's subsidiary in South Africa has completed the acquisition of Anmarate (Pty) Ltd, South Africa, a deal estimated at around ZAR 26 million.
"The company's wholly-owned subsidiary Cipla Medpro South Africa Pte has completed acquisition of Anmarate (Pty)," Cipla said in a BSE filing.
The company, on March 31, announced the acquisition saying it would strengthen its market position.
It said that the cost of acquisition is ZAR 26,253,659 is subject to post closing of net working capital, not exceeding ZAR 30 million.
The company acquired 4,000 shares of ZAR 1 each, representing 100 per cent of the Anmarate's share capital.
Shares of the company closed at Rs 577.85, down 0.16 per cent on BSE.
Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .
Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2020 Minerva Medical Treatment Pvt Ltd