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Mergers & Acquisitions | 22 November 2012

Cipla To Acquire Majority Stake In Cipla Medpro

by Charmi Gutka
Cipla To Acquire Majority Stake In Cipla Medpro
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Cipla Limited is in preliminary discussions and have made an indicative proposal of acquiring approximately a 51% stake in Cipla Medpro South Africa Limited for a total consideration of $220 Mn.

The acquisition will help Cipla to integrate the marketing arm in South Africa with its manufacturing, regulatory and research units.

Johannesburg listed Cipla Medpro is a distributor Cipla Ltd.’s products in South Africa and in some neighboring countries.

Cipla Limited currently does not hold any stake in Cipla Medpro. Medpro used to source 80% of its products from Cipla, and the companies agreed Medpro would use the brand name of Cipla for selling products in Africa.

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