CIPLA LTD. - Updates
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| 12 Feb 2015 | |
| Cipla Ltd has informed BSE that the Company has signed a definitive agreement to acquire 60% stake of Jay Precision Pharmaceuticals Private Limited ("Jay Precision"), Mumbai, from the existing shareholders, for a cash consideration of Rs. 96 crore.<BR><BR>Jay Precision is an existing supplier of respiratory devices to the Company and has a state of the art manufacturing facility at Vasai, Maharashtra. Considering Company's leading position in inhalation therapy, this transaction is aimed at integrating the value chain and will serve as platform for development of next generation respiratory devices.<BR><BR>Pharmaceutical undertaking of Jay Precision Products (India) Private Limited was demerged into Jay Precision effective January 01, 2014. Turnover of Jay Precision for the year ended March 31, 2014 was Rs. 30 crores.<BR><BR>The transaction is expected to be completed by end of this financial year, subject to completion of certain conditions precedent.<BR><BR>None of the persons belonging to Promoter / Promoter Group(s) of the Company has any interest in the transaction and it is not a related party transaction for the Company. The transaction does not require any governmental or regulatory approval(s). | |
| View all announcements for CIPLA LTD. | Source: BSE India |
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