Active Stocks
Tue Mar 19 2024 15:58:41
  1. Tata Consultancy Services share price
  2. 3,977.55 -4.03%
  1. Tata Steel share price
  2. 148.65 -0.64%
  1. Bharti Airtel share price
  2. 1,227.85 0.23%
  1. Power Grid Corporation Of India share price
  2. 258.95 -2.28%
  1. ITC share price
  2. 409.50 -1.89%
Business News/ Companies / Strides Shasun acquires controlling stake in South Africa-based Trinity Pharma
BackBack

Strides Shasun acquires controlling stake in South Africa-based Trinity Pharma

Strides Shasun unit Strides Pharma Asia signs agreement to buy 55% stake in South Africa's Trinity Pharma Proprietary for approximately Rs27.5 crore

The company said the transaction allows Strides to establish presence in the high entry barrier market of South Africa.Premium
The company said the transaction allows Strides to establish presence in the high entry barrier market of South Africa.

New Delhi: Strides Shasun Ltd on Friday said its subsidiary Strides Pharma Asia Pte Ltd has entered into an agreement to acquire controlling stake in South Africa’s Trinity Pharma Proprietary Ltd.

Strides Pharma Asia Pte will buy a 55% stake in Trinity for a cash consideration of approximately Rs27.5 crore, the company said in a BSE filing.

The company said the transaction allows Strides to establish presence in the high entry barrier market of South Africa, where product dossiers approval takes more than five years. This transaction will provide access to pipeline of more than 110 product dossiers already submitted.

The transaction is subject to customary closing conditions including approvals from the South African regulatory authority and is expected to close on or before 5 January 2018.

At 1.19pm, the company’s shares were trading 2.94% higher at Rs818.60 apiece on BSE, while the Sensex rose 0.24% to 33,922.18 points.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 20 Dec 2017, 01:28 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie