Cipla acquires 60% in Sri Lankan firm for $14 mn

Cipla Ltd, one of India’s leading generics manufacturers, has acquired 60% in a Sri Lankan company for $ 14 million (about Rs 85 crore). Cipla has informed BSE that Cipla (Mauritius) Limited, a wholly owned subsidiary of the company, has signed a definitive agreement with the company’s existing Sri Lankan distributor for acquisition of 60% stake in a new company which will market Cipla’s products in Sri Lanka.
 
The proposed acquisition is subject to regulatory approvals.