M&A

M&A

Ipca Labs picks up 19.3% more in Unichem for Rs.598-Cr to hike its stake to 53%

Business Standard  

Ipca Laboratories has acquired an additional 19.29% stake in Unichem Laboratories through an open offer for INR 597.5 crore, taking its shareholding to 52.67%. Ipca paid INR 440 per equity share in the open offer. This move follows Ipca Laboratories' previous acquisition of 33.38% of Unichem Laboratories in August at INR 402.25 per equity share, aggregating to INR 945.35 crore. As part of this acquisition, Ipca had agreed to make an open offer to acquire up to 26% more. Post-acquisition, several wholly-owned subsidiaries of Unichem have also become subsidiaries of Ipca Laboratories. These are: Niche Generics UK, Unichem SA Pty in South Africa, Unichem Farmacêutica Do Brasil Ltda, Unichem Pharmaceuticals USA, Unichem Laboratories Ltd in Ireland, and Unichem (China). Unichem has six manufacturing plants in India. It has a large basket of branded generics and APIs (active pharmaceutical ingredients), which it markets in several countries. Ipca Laboratories manufactures and markets a wide range of pharmaceutical formulations, including APIs, branded generics and generics in several countries.