SUN PHARMACEUTICAL INDUSTRIES LTD. - Updates on Scheme of Arrangement
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| 24 Mar 2015 | |
| Sun Pharmaceutical Industries Ltd has informed BSE that the Company has on March 23, 2015, received the approval from Reserve Bank of India (RBI) for (a) the issue of equity shares of Sun Pharmaceutical Industries Limited (Sun Pharma) to the Non Resident holders of securities of Ranbaxy Laboratories Limited (Ranbaxy) and (b) transfer of overseas investments held by Ranbaxy Laboratories Limited in its Joint Venture and Wholly Owned Subsidiaries to Sun Pharmaceutical Industries Limited, pursuant to the proposed merger of Ranbaxy Laboratories Limited with Sun Pharmaceutical Industries Limited through a Scheme of Arrangement.<BR><BR>Further the Company has 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<BR>Pharmaceuticals Ltd., for the aforementioned divestment. These products constitute less than 1% of the combined entity's revenues in India. | |
| View all announcements for SUN PHARMACEUTICAL INDUSTRIES LTD. | Source: BSE India |
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