Cipla arm buys 60% stake in Sri Lankan company for USD 14 mn
Source: IRIS | 17 Jun, 2014, 02.32PM
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 Cipla (Mauritius), a wholly owned subsidiary of Cipla, has signed a definitive agreement with the company's existing Sri Lankan distributor for acquisition of 60% stake in a new company which will market the company's products in Sri Lanka.
 The consideration payable for the transaction is USD 14 million. The proposed acquisition is subject to regulatory approvals.
Shares of the company declined Rs 1.9, or 0.46%, to trade at Rs 412.20. The total volume of shares traded was 71,377 at the BSE (2.25 p.m., Tuesday).
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