Dr Reddy's Laboratories, is getting ready to delist its Netherlands-based speciality pharma company - OctoPlus NV from Euronext as the Indian drug makers have acquired 98.6% of its shares. The entity will start the squeeze-out proceedings in order to acquire the remaining shares not tendered and not held by it or OctoPlus.
Indian drug major had announced the plan to acquire OctoPlus NV for about 27.4 million euros on October 22 last year. According to the agreement, the company made an open offer to purchase all outstanding shares of OctoPlus at an offer price of 0.52 euro in cash for each share.
