Aurobindo Pharma announced that Aurogen South Africa, South Africa, a wholly owned step-down subsidiary of the Company, has entered into agreement with the shareholders of Purple Bellflower (PBF), South Africa, a joint venture company, to purchase entire shares held by other joint venture partners and make Purple Bellflower a wholly owned subsidiary of Aurogen South Africa, and also Aurobindo Pharma, South Africa, a wholly owned subsidiary of Aurogen South Africa.
48% shares of PBF are held by Aurogen South Africa, South Africa (ASL), a wholly owned step-down subsidiary of the Company and 52% shares are held by other Joint Venture Partners.
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