June 22, 2020 / 4:50 PM / 18 days ago

Germany's pharma firm Boehringer to offload stake in drugmaker Hikma

June 22 (Reuters) - Hikma Pharmaceuticals said on Monday investor Boehringer Ingelheim would sell up to 28 million shares in the London-listed drugmaker, or shares worth about 700 million pounds ($871.43 million), according to a bookrunner for the deal.

The drugmaker said it will simultaneously seek to buy back shares worth not more than 295 million pounds from Germany-based private pharmaceutical firm Boehringer.

Boehringer currently holds about 16.4% of Hikma’s share capital and voting rights. ($1 = 0.8033 pounds) (Reporting by Pushkala Aripaka in Bengaluru; Editing by Shinjini Ganguli)

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