Deal expected to close by 30 April 2016
Strides Shasun announced the signing of definitive agreements to acquire a strategic stake in Generic Partners Holdings Co., an Australian pharmaceutical supply and research company. The transaction is expected to close by 30 April 2016, subject to regulatory and customary closing conditions.Under the terms, Strides Shasun will hold 51% stake of issued capital of Generic Partners and the remaining equity will be held by current promoters. This is an all-cash deal for an up-front consideration of AUD 15 million and a commitment of AUD 10 million to fund future R&D. The acquisition shall be made through Arrow Pharmaceutical, wholly owned subsidiary of Strides Shasun.
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