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Sun Pharma arm fully acquires PJSC Biosintez after buying 3.04 pc remaining stake for Rs 6 crore


Sun Pharma arm fully acquires PJSC Biosintez after buying 3.04 pc remaining stake for Rs 6 crore

Cash consideration of Rubles 54,194,628.60 equivalent to USD 815,201.99 (about Rs 6 crore) was paid to shareholders who tendered their respective shares in the mandatory tender offer, Sun Pharma said.

NEW DELHI: Drug major Sun Pharmaceutical Industries on Monday said its Netherlands-based arm has fully acquired PJSC Biosintez, Russia by purchasing a 3.04 per cent stake in the company under the mandatory tender offer.

The company’s subsidiary – Sun Pharma (Netherlands) BV – already had 96.96 per cent stake in pharma firm PJSC Biosintez prior to the purchase of these shares, Sun Pharma said in a filing to the BSE.

Post the purchase, Sun Pharma (Netherlands) BV’s shareholding in the target entity has increased from 96.96 per cent to 100 per cent, it added.

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Cash consideration of Rubles 54,194,628.60 equivalent to USD 815,201.99 (about Rs 6 crore) was paid to shareholders who tendered their respective shares in the mandatory tender offer, Sun Pharma said.

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Source: PTI
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