Corporate Announcement
Security Code : 500087    Company : CIPLA    
Updates on Subsidiary 
  Exchange Disseminated Time     
Cipla Ltd has informed BSE that Medispray Laboratories Private Limited, a wholly owned subsidiary of the Company at its board meeting held on September 05, 2014 approved the acquisition of two manufacturing undertakings. A significant portion of the capacities of the two undertakings are dedicated for the manufacture of Cipla's products. Acquisition of the aforesaid undertakings is expected to yield operational synergies.

The consideration for the above two transactions are Rs. 29 crore and Rs. 71.93 crore respectively. The first manufacturing facility located at Goa is owned by Okasa Private Limited and the second manufacturing facility located at Satara (Maharashtra) is owned by Okasa Pharma Pvt Ltd. Entities controlled by relatives of the promoters hold majority interest in the companies which own the aforesaid undertakings.

The consideration for these transactions were supported on the basis of valuation reports from Price Waterhouse & Co. LLP and fairness opinions provided by Kotak Mahindra Capital Company Limited.


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