Cipla's wholly owned subsidiary -- Cipla (EU), holding 60% stake in Cipla Pharma Lanka, Sri Lanka, has signed an agreement with CitiHealth Imports to acquire the remaining 40% stake in Cipla Pharma Lanka. Post-acquisition, Cipla Pharma Lanka will become a wholly owned subsidiary.
The company will acquire 4 lakh issued and paid up capital of LKR 1 per share each representing 40% of the share capital of Cipla Pharma Lanka's share capital on a fully diluted basis. The cost of acquisition is to be paid through cash consideration of LKR 400,000 on closing of transaction.
Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients. The company’s portfolio includes over 1500 products across wide range of therapeutic categories with one quality standard globally.
