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Cipla Ltd's Meditab Holdings Ltd Announces Acquisition Of Additional 14.5% Stake In Quality Chemical Industries Ltd

Thursday, 21 Nov 2013 02:56am EST 

Cipla Ltd announced that Meditab Holdings Limited (MHL), a wholly owned step down subsidiary of the Company, has acquired an additional 14.5% stake in Quality Chemical Industries Limited (QCIL), Uganda for a consideration of USD 15 million. QCIL’s principal activity is manufacturing and selling of pharmaceutical drugs with emphasis on anti-retroviral (ARV’s) and anti-malarial drugs. QCIL has a WHO approved manufacturing facility in Uganda. MHL was earlier holding 36.55% stake in QCIL. Consequent to the acquisition of aforesaid additional stake, MHL now holds 51.05% stake in QCIL. 

Company Quote

-7.5 -1.20%
19 Dec 2014