Sun Pharmaceutical is planning acquisitions in Europe and is in talks with German drug maker Stada Arzneimittel AG.
The overseas acquisition is a part of strategic move to broaden its geographic breadth. Sun Pharma has followed a strategy of acquiring under-performing or unprofitable companies and merging their operations to its company.
The company is planning to raise $1 Bn for the acquisitions as the market value of the German drug maker is around $1.7 Bn. Sun Pharma has about $927 Mn cash on its balance sheet.
Singapore’s sizeable office real estate finance trust by value, the CapitaLand Commercial Trust Management Limited, is all set to buy remaining 60 percent stake in CapitaGreen - Office Space, for about S$393 million ($285 million) from its partners CapitaLand Ltd. and Mitsubishi Estate Asia Pte