Topics
Sun Pharma | Zenotech Laboratories | Daiichi Sankyo
Press Trust of India |
https://mybs.in/2au3Pv5
Sun Pharmaceutical Industries on Monday said it has entered into a share purchase agreement with Japan's Daiichi Sankyo Company to acquire the latter's 11.28 per cent stake in Zenotech Laboratories.
Sun Pharma said it will pay Rs 5.32 crore for the stake.
The primary objective of the transaction from acquirer's perspective is to consolidate its holding in the target company, the Mumbai-based drug firm said in a regulatory filing.
After the acquisition, Sun Pharma's stake in Zenotech will increase from 57.56 per cent to 68.84 per cent, it added.
The acquisition is expected to complete in 30 days.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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