Cipla’s arm completes acquisition of South Africa’s Mirren

By: |
New Delhi | October 23, 2018 2:40 PM

Cipla Medpro South Africa (Pty) Ltd has completed the acquisition of 100 per cent stake in South African firm Mirren on October 22, 2018, Cipla said in a filing to BSE.

Cipla Medpro is a wholly-owned subsidiary of Mumbai-based Cipla Ltd. (Representational photo: Reuters)

Drug major Cipla Tuesday said its South African subsidiary has completed the acquisition of pharma firm Mirren (Pty) Ltd.

Cipla Medpro South Africa (Pty) Ltd has completed the acquisition of 100 per cent stake in South African firm Mirren on October 22, 2018, Cipla said in a filing to BSE.

In July, the company informed that Cipla Medpro had signed an agreement to fully acquire Mirren for a cash consideration of South African Rand 450 million to be paid on closing of transaction.

Cipla Medpro is a wholly-owned subsidiary of Mumbai-based Cipla Ltd.

Shares of Cipla were trading at Rs 620.90 per scrip on BSE, down 1.32 per cent from the previous close.

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