Cipla to buy control of S.Africa's Cipla Medpro

JOHANNESBURG Wed Nov 21, 2012 4:15am EST

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JOHANNESBURG Nov 21 (Reuters) - Indian drugs maker Cipla Limited has offered to buy a about a 51 percent stake in South African drug maker Cipla Medpro, Cipla Medpro said in a statement on Wednesday.

The Indian firm has offered 8.55 rand per share, Cipla Medpro said. Shares of Cipla Medpro surged on the news.

(Reporting by Helen Nyambura-Mwaura; editing by David Dolan)

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