Pharmaceutical company Laurus Labs has successfully completed the acquisition of Laurus Bio Private Limited. This development comes as an update to the disclosures made on September 11, 2023, and October 16, 2023, where Laurus Labs announced the signing of Share Purchase Agreements (SPAs) with Laurus Bio's shareholders and the partial completion of the acquisition of 29,308 shares, respectively.
The latest update reveals that Laurus Labs concluded the acquisition by securing the remaining 8,333 equity shares from the promoter group shareholders of Laurus Bio on November 20, 2023. As a result of this move, Laurus Labs now commands 87.59 per cent shareholding in Laurus Bio on a fully diluted basis.
The acquisition was made through a secondary purchase from the promoter group shareholders of Laurus Bio on November 20, 2023.