India allows foreign investment of up to 100% in pharmaceutical sector but above 74% requires govt approval
Agrees to cut size of stake in Hyderabad-based injectable maker to 74%, after earlier proposal to acquire 86% met approval roadblock
Revised plan in wake of Indian firm's demand to retain higher stake
Shanghai Pharma also said it had submitted a non-binding bid for a stake in Arbor already
Chinese firm buys Hyderabad-based injectables maker at $1.46 bn valuation; promoter family retains 10%; KKR exit earns it threefold return in 30 months
Will acquire 86% stake in KKR-backed Indian firm, signs definitive agreement for the largest acquisition of an Indian company by a Chinese firm
The largest inbound acquisition of an Indian company from abroad this year
Trading halt assumes significance in the backdrop of Fosun's bid to acquire Gland Pharma
In May, Shanghai Fosun had made a non-binding proposal to buy Gland Pharma