Ipca Labs to buy 33 percent stake in Unichem Labs for 1,034 crore
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.;
Mumbai: lpca Laboratories Limited has announced that the company 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 M/s. Unichem Laboratories Ltd, from one of its promoter shareholder at a price @ Rs. 440/- per equity share aggregating to Rs. 1034.06 Crores.
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@ 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.
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