Cipla EU to acquire additional 19.16 percent stake in Cipla Maroc
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New Delhi: Cipla (EU) Limited, wholly owned subsidiary of the Company in UK, has agreed to acquire an additional 19.16% stake in Cipla Maroc SA, joint venture and subsidiary of Cipla EU in Morocco.
The said acquisition is for a total consideration of MAD (Moroccan Dirham) 102.90 million (Rs79.51 crore approx.).
Cipla Maroc SA ("JV Co.") was incorporated in 2015, in Morocco, as a joint venture between Cipla EU Limited (60%), The Pharmaceutical Institute ("PHI") (24.20%) and Societe Marocaine De Cooperation Pharmaceutique ("Cooper Pharma") (15.80%) for the purpose of manufacturing, marketing and distribution of pharmaceutical products in Morocco.
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