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Cipla makes indicative proposal for acquiring 51% stake of Cipla Medpro, SA

21 Nov 2012 Evaluate

Cipla being in preliminary discussion, has made an indicative proposal for acquisition of 51% equity stake in Cipla Medpro South Africa, a company incorporated in the Republic of South Africa and listed on the JSE, for a price of South African Rand (ZAR) 8.55 per share (payable ex the final dividend for 2012 financial year, which will be capped at a maximum of ZAR 0.10 per share).

Further, based on Cipla Medpro South Africa current shares outstanding and spot ZAR/$ exchange rates, total consideration payable by the company would be approximately $220 million (Exclusive of the anticipated dividend of upto ZAR 0.10 per share to be paid by Cipla Medpro to its shareholders for the 2012 financial year). However, at this stage, there is no uncertainty that these discussions will lead to firm offer being made or a transaction being consummated.

Cipla focuses on development of new formulations and has a wide range of pharmaceutical products. It offers prescription drugs, bulk drugs, animal products and pesticides. It also offers a wide range of food and beverages, baked foods, oral hygiene products, detergents, room fresheners and personal care products.

Cipla Share Price

1239.60 6.70 (0.54%)
22-Apr-2026 14:53 View Price Chart
Peers
Company Name CMP
Sun Pharma Inds. 1666.85
Dr. Reddys Lab 1220.80
Cipla 1239.60
Zydus Lifesciences 932.80
Lupin 2310.70
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