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.
Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.
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