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Cipla to buy control of South Africa's Cipla Medpro
November 21, 2012 / 9:31 AM / 5 years ago

Cipla to buy control of South Africa's Cipla Medpro

JOHANNESBURG (Reuters) - Indian drugs maker Cipla Limited (CIPL.NS) has offered to buy a about a 51 percent stake in South African drug maker Cipla Medpro CMPJ.J, 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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