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Cipla, PE firm Fidelity sign investment pact

Cipla did not disclose the amount which will be invested by Fidelity Growth Partners in its consumer health subsidiary

BS Reporter  |  Mumbai 

Cipla, PE firm Fidelity sign investment pact

Private equity firm has signed an agreement with for investing in its consumer business, the drug maker has informed the stock exchange.

did not disclose the amount which will be invested by in its consumer health subsidiary. The investment is subject to approvals from Foreign Investment Promotion Board and Competition Commission of India.

Cipla's board had given nod to the transaction in July and an investment agreement was signed on Friday. In July the board also proposed the divestment of consumer (OTC segment) business to a subsidiary.

In the last the segment contributed Rs 34.8 crore in revenue which was about 0.3 per cent of total consolidated income.

 

 

First Published: Sat, November 28 2015. 18:10 IST
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