Cipla To Acquire South Africa’s Actor Pharma For $48.6 Million
Source: bqprime.com
Cipla Ltd.’s wholly-owned South African subsidiary—Cipla Medpro South Africa (Pty) Ltd.—entered into a binding term sheet to acquire a 100% stake in Actor Holdings (Pty) Ltd., a privately owned pharmaceutical company specializing in consumer health and generic medicine. The consideration has been fixed at ZAR 900 million (approx. $48.6 million or around Rs 400 crore) in cash for 920 equity shares representing a 100% equity stake, according to the exchange filing dated Sept. 4.
This was a strategic acquisition for Cipla South Africa to unlock future growth opportunities and leverage cost synergies in the South African market, Cipla said in the filing. The acquiree company – Actor Pharma—was founded in 2009 and is currently the fifth largest privately owned over-the-counter player in the South African private market.
Read more at: https://www.bqprime.com/business/cipla-to-acquire-south-africas-actor-pharma-for-486-million
