For consideration of Rs 100.93 crore
Cipla announced that Medispray Laboratories, a wholly owned subsidiary of the Company at its board meeting held on 05 September 2014 approved the acquisition of two manufacturing undertakings.A significant portion of the capacities of the two undertakings are dedicated for the manufacture of Cipla's products. Acquisition of the aforesaid undertakings is expected to yield operational synergies.
The consideration for the above two transactions are Rs. 29 crore and Rs. 71.93 crore respectively. The first manufacturing facility located at Goa is owned by Okasa and the second manufacturing facility located at Satara (Maharashtra) is owned by Okasa Pharma. Entities controlled by relatives of the promoters hold majority interest in the companies which own the aforesaid undertakings.
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