Friday, January 29, 2016
Drug major Cipla has received approval from fair trade regulator CCI to sell about 26 per cent stake in its consumer healthcare business to Mauritius-based FIL Capital Investments.
In November last year, the company signed an agreement to sell 26.11 per cent in Cipla Health to FIL Capital Investments (Mauritius) II Limited.
However, the financial details of the deal were not disclosed.
In a tweet today, the Competition Commission of India (CCI) said that it "approves acquisition of 26.11 per cent stake in Cipla Health Ltd by FIL Capital Investments (Mauritius) II Ltd".
Through the consumer healthcare business, Cipla has entered the over-the-counter (OTC) healthcare market in India.
In July last year, Cipla's board had approved an investment by Fidelity Growth Partners India and US-based Fidelity Biosciences, through FIL Capital Investments (Mauritius) II or its affiliates in the consumer healthcare business.
economictimes.indiatimes.com
