RANBAXY LABORATORIES LTD. - Updates on Scheme of Arrangement
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| 24 Mar 2015 | |
| Ranbaxy Laboratories Ltd has informed BSE that Sun Pharmaceutical Industries Limited ("Sun Pharma") has on March 23, 2015, received the approval from Reserve Bank of India (RBI) for a) the issue of equity shares of Sun Pharma to the Non Resident holders of equity shares of Ranbaxy Laboratories Limited ("Ranbaxy") and b) transfer of overseas investments held by Ranbaxy in its Joint Venture and Wholly Owned Subsidiaries to Sun Pharma, pursuant to the proposed merger of Ranbaxy with Sun Pharma through a Scheme of Arrangement.<BR><BR>Further Ranbaxy and Sun Pharma have also on March 23, 2015, received the approval of the Competition Commission of India ("CCI") with respect to the divestment of all the seven products in compliance with the requirement of the CCI order dated December 05, 2014. Pursuant to this approval, Sun Pharma and Ranbaxy have also entered into a definitive agreement with Emcure Pharmaceuticals Ltd., for the aforementioned divestment. These products constitute less than 1% of the combined entity's revenues in India. | |
| View all announcements for RANBAXY LABORATORIES LTD. | Source: BSE India |
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