Cipla to sell 51 percent stake in Uganda arm for USD 25-30 million
Mumbai: Pharma major Cipla Limited and its wholly owned subsidiaries, Cipla (EU) Limited, UK and Meditab Holdings Limited, Mauritius, have entered into a Share Purchase Agreement with Africa Capitalworks SSA 3 for the sale of 51.18 percent stake in Cipla Quality Chemical Industries Limited (CQCIL), Uganda. Subsequent to the sale, CQCIL will cease to be a subsidiary of Cipla."Consideration to...
Mumbai: Pharma major Cipla Limited and its wholly owned subsidiaries, Cipla (EU) Limited, UK and Meditab Holdings Limited, Mauritius, have entered into a Share Purchase Agreement with Africa Capitalworks SSA 3 for the sale of 51.18 percent stake in Cipla Quality Chemical Industries Limited (CQCIL), Uganda. Subsequent to the sale, CQCIL will cease to be a subsidiary of Cipla.
The proposed sale is expected to be completed by 31st May 2023, subject to obtaining regulatory approvals and completion of conditions precedent as mutually agreed between the parties.
Cipla Limited is an Indian multinational pharmaceutical and biotechnology company, headquartered in Mumbai, India. The Company was founded by Khwaja Abdul Hamied in 1935 in Mumbai.
The company specializes in the respiratory, anti-retroviral, urology, cardiology, anti-infective and CNS segments. Cipla's 47 manufacturing sites around the world produce 50+ dosage forms and 1,500+ products using cutting-edge technology platforms to cater to 86 markets.
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