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Cipla to purchase 100% stake in Mirren (Pty)

Cipla will buy 100% stake in South African pharma company, Mirren (Pty).

The company’s wholly owned subsidiary Cipla Medpro South Africa (Pty) signed an agreement to acquire 100% stake, in Mirren (Pty), South Africa. The company will pay cash consideration of South African Rand 450 million on closing of transaction. Further, the said acquisition is subject to approval by the South African Competition Commission and it is estimated to be completed before September 30, 2018.

Read EquityPandit’s Technical Analysis of Cipla 

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