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Cipla - Acquisition of Cipla Medpro South Africa Limited ("Medpro") by Cipla Limited ("Company")

By Religare

With reference to the earlier announcement dated February 27, 2013 and the subsequent announcements on May 15, 2013 and June 20, 2013, whereby the Company informed the exchanges regarding the proposed acquisition of 100% of the issued shares of Medpro by the Company ("Scheme") and subsequent updates in relation to various approvals received in relation to the Scheme, Cipla Ltd has now informed BSE that the Company received approval from the Takeover Regulation Panel of South Africa on June 27, 2013 and that all conditions precedent to the Scheme have now been fulfilled or waived, and accordingly, on June 27, 2013, the Scheme has become unconditional. The operative date of the Scheme is expected to be July 15, 2013 and the shares of Medpro are expected to be delisted from the JSE Limited with effect from July 16, 2013.

In this regard, the Company has submitted to BSE a copy of the joint finalisation announcement in respect of the Scheme by the Company and Medpro.

Read more about: cipla
Story first published: Friday, June 28, 2013, 22:56 [IST]
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