Shares of Sun Pharmaceutical Industries on Monday closed at  ₹428.80 per scrip on the BSE, up 0.92% from its previous close.
Shares of Sun Pharmaceutical Industries on Monday closed at 428.80 per scrip on the BSE, up 0.92% from its previous close.

Sun Pharma arm acquires remaining 3.04 % stake in PJSC Biosintez

  • Sun Pharma subsidiary — Sun Pharma (Netherlands) BV — already had 96.96% stake in pharma firm PJSC Biosintez prior to the purchase of these shares
  • Cash consideration of $ 815,201.99 was paid to shareholders who tendered their respective shares in the mandatory tender offer

New Delhi: Drug major Sun Pharmaceutical Industries on Monday said its Netherlands-based arm has fully acquired PJSC Biosintez, Russia by purchasing 3.04% stake in the company under the mandatory tender offer.

The company's subsidiary — Sun Pharma (Netherlands) BV — already had 96.96% stake in pharma firm PJSC Biosintez prior to the purchase of these shares, Sun Pharma said in a filing to the BSE.

Post the purchase, Sun Pharma (Netherlands) BV's shareholding in the target entity has increased from 96.96% to 100%, it added.

Cash consideration of Rubles 54,194,628.60 equivalent to $ 815,201.99 (about 6 crore) was paid to shareholders who tendered their respective shares in the mandatory tender offer, Sun Pharma said.

Shares of Sun Pharmaceutical Industries on Monday closed at 428.80 per scrip on the BSE, up 0.92% from its previous close.

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