Cipla offers to acquire controlling stake in Cipla Medpro South Africa for $220 million

21 Nov 2012

1

Cipla Ltd, one of the world's largest generic pharmaceutical companies, has made an indicative offer to acquire a 51 per cent stake in Cipla Medpro South Africa Ltd, for around $220 million.

Formed in 2003 as Enaleni Pharmaceuticals through a management buy-out of Reckitt-Benckiser's Durban manufacturing plant, Johannesburg Stock Exchange-listed Cipla Medpro is South Africa's third-largest pharmaceutical company.

Cipla has offered to pay 8.55 ZAR per share, payable ex-final dividend for 2012 that has been capped at maximum of 0.1 ZAR per share.

The Mumbai-based generic firm is in preliminary discussions with Cipla Medpro, and the offer is subject to various conditions, including due diligence, execution board, regulatory and other approvals.

Cipla Medpro is a distributor of Mumbai-based Cipla's products in South Africa ans some neighbouring countries.

The Cape Town-based company provides an extensive range of over-the-counter (OTC) products and chronic medicines spanning a broad range of categories,such as cardio-respiratory, diabetes, oncology, neuro-psychiatry and HIV/Aids.

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers