Cipla to pay Rs 166 crore for majority stake in Ugandan Quality Chemicals
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New Delhi, Jul 24 : Drug major Cipla has re-negotiated payment terms for acquiring majority stake in Uganda's Quality Chemicals and now decided to pay USD 26 million (around Rs 166 crore) upfront to the shareholders of the African firm.
Cipla (EU), a wholly-owned subsidiary of the company, has re-negotiated the terms of the agreement and have entered into an amendment for upfront payment of the consideration amount instead of payment in tranches over a period of 5 years, the Mumbai-based company said in a statement.
Cipla (EU), a wholly-owned subsidiary of the company, has re-negotiated the terms of the agreement and have entered into an amendment for upfront payment of the consideration amount instead of payment in tranches over a period of 5 years, the Mumbai-based company said in a statement.
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