Live
- They always want me to win, and now I feel lucky to have been offered a story like ‘Zebra’: Satyadev Kancharana
- ‘Democracy first, humanity first’: PM Modi in Guyana's parliament on two countries' similarities
- PKL Season 11: Telugu Titans register third straight win to top standings
- Is Pollution Contributing to Your COPD?
- NASA Unveils Underwater Robots for Exploring Jupiter's Moons
- Additional Central forces arrive in violence-hit Manipur
- AR Rahman and Saira Banu’s Divorce: Legal Insights into Common Issues in Bollywood Marriages
- 82.7 pc work completed in HPCL Rajasthan Refinery area: official
- Curfew relaxation extended in 5 Manipur districts on Friday
- Tab scam prompts Bengal govt to adopt caution over fund disbursement
Sun Pharma to buyout local partner in Mexican arm
Sun Pharmaceutical Industries Ltd on Thursday said it will buy out local partner Indi Pharma from its Mexican arm for MXN 161.85 million (over Rs 75 crore).
New Delhi: Sun Pharmaceutical Industries Ltd on Thursday said it will buy out local partner Indi Pharma from its Mexican arm for MXN 161.85 million (over Rs 75 crore).
The company has signed a binding letter of intent to acquire the balance 25 percent outstanding shares of Sun Pharma de Mexico, SA de CV, a subsidiary where it currently holds 75 percent shares, Sun Pharmaceutical Industries said in a regulatory filing. The balance of 25 percent is held by local partner Indi Pharma S.A.P.I. de CV, it added. The cost of acquisition is MXN 161.85 million, it added.
"The acquisition enables Sun Pharma to acquire the balance 25 percent stake held by the local partner," the company said, adding it would be done through a wholly-owned subsidiary Sun Pharma (Netherlands) B.V. The acquisition is likely to be completed by October 31, 2023, and after that, Sun Pharma de Mexico SA de CV will become a wholly-owned subsidiary of the company, it said. Sun Pharma de Mexico is engaged in the marketing and distribution of pharmaceutical products in Mexico.
