November 21, 2012 / 9:16 AM / in 5 years

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

1 Min Read

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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