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Singapore company to acquire majority stake in Dabur Pharma

NEW DELHI: Home grown drug maker Dabur Pharma on Saturday said it would sell 73.27 per cent stake to Fresenius Kabi (Singapore) Pte Ltd for an undisclosed amount.

The Singapore firm would purchase the stake at Rs. 76.50 per equity share from the promoters and certain other shareholders of the company, Dabur Pharma said in a filing to the Bombay Stock Exchange.

However, the acquisition would be subject to the fulfilment of certain conditions precedent including receipt of necessary regulatory approvals and compliance by Fresenius with public offer requirement under the SEBI regulations, it added.

Fresenius Kabi Pte is a unit of Germany-based healthcare firm Fresenius SE.

Dabur Pharma, which makes anti-cancer drugs, had earlier denied that it was in talks with a German drug maker for a partnership or sale. — PTI

Corporate Desk writes:

As on March 31, 2008, the equity capital of Dabur Pharma stood at Rs. 15.67 crore. Out of this the promoters’ holding was Rs. 10.18 crore working out to 65 per cent.

The latest deal would fetch Dabur promoters and certain other shareholders around Rs. 78 crore. The shares of the company were quoting around Rs. 69 on the Bombay Stock Exchange on Thursday.

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