Ipca Laboratories has entered into a definitive Share Purchase Agreement (SPA) for acquisition of 2,35,01,440 fully paid-up equity shares of Rs 2 each, constituting 33.38% of the paid up equity share capital of Unichem Laboratories, from one of its promoter shareholder at a price of Rs 440 per equity share aggregating to Rs 1034.06 crore.
The company is also making an open offer to the public equity shareholders of Unichem to acquire from them upto 26% of the fully diluted outstanding equity share capital at a price of Rs 440 per share, under the relevant provisions of SEBI (Substantial Acquisition of shares and takeovers) Regulations, 2011.
These transactions are subject to approval of the Competition Commission of India under the Competition Act, 2002 and such other approvals as may be required. The business and product range of Ipca and that of Unichem complements each others business and product range.
Ipca Laboratories is engaged in manufacturing of active pharmaceutical ingredients and formulations.
Company Name | CMP |
---|---|
Sun Pharma Inds. | 1504.25 |
Dr. Reddys Lab | 6263.70 |
Cipla | 1406.25 |
Zydus Lifesciences | 948.20 |
Lupin | 1615.85 |
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