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INDIA'S STRIDES TO BUY 55% OF AUSTRALIAN PHARMACO GENEPHARM.
MUMBAI, May 1 Asia Pulse - Pharmaceutical firm Strides Arcolab (BSE:532531) on Wednesday said it will acquire a majority stake of 55 per cent in ASX listed Genepharm Australasia (ASX:GAA) for A$61 million (US$57.6511 million) in an exchange for its Asian and Australian businesses.
Strides Arcolab has signed definitive agreements with Genepharm Australasia to this effect, the company said in a filing to the Bombay Stock Exchange.
"On successful completion of the Genepharm transaction, Strides may emerge with a shareholding of approximately 55 per cent of the expanded capital base of Genepharm," the company added.
The purchase consideration of Strides' Australian and Asian operations is reduced from a$65 million to A$61 million. However, Genepharm proposes to assume ...
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Source: HighBeam Research, INDIA'S STRIDES TO BUY 55% OF AUSTRALIAN PHARMACO GENEPHARM.