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Major drug Cipla's subsidiary has signed an agreement for the full acquisition of Mirren (Pty) Ltd of South Africa for a cash consideration of 450 million South African Rand (approximately 228 crores). of Rs.)
Cipla announced the acquisition of Mirren in over-the-counter pharmaceuticals, will strengthen its position in the market and help it accelerate growth in the OTC space.
"Cipla Medpro South Africa (Pty) Ltd, a wholly-owned subsidiary, has signed an agreement to acquire 100 The transaction is to be approved by the South African Competition Commission and is expected to be completed by 30 September 2018, said Cipla.
] "A cash consideration of 450 million South African rand to be paid at the closing of the transaction," said the company.
Mirren (Pty) Ltd, South Africa, realized a turnover of 152.1 million It has a presence in South Africa, Namibia and Botswana.
The shares of Cipla were trading from 1.10% to 631.60 Rs on the # 39; BSE.
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