Sun Pharmaceuticals Industries Limited announced it has acquired additional 11.28% equity stake in Zenotech Laboratories Limited. Post this acquisition, Sun Pharma would increase its shareholding from 57.56% to 68.84% in the company.
According to the company’s exchange filing, “this is to inform you that Suo Pharmaceutical Industries Limited (“Company”) has entered into a share purchase agreement (“SPA”) with Daiichi Sankyo Company Limited, Japan wherein subject to conditions precedents, the Company has agreed to acquire 68,86,500 (Sixty Eight Lakhs Eighty Six Thousand Five Hundred) equity shares, representing 11.28% of present equity share capital of Zenotech Laboratories Limited (CIN: L27100TG1989PLC010122), which is presently a subsidiary of the Company.”
Incorporated in 1989, Zenotech Laboratories Limited is an Indian company which is presently inter alia engaged in the business of manufacturing and supply of pharmaceutical products.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.