MUMBAI: Drug maker Plethico Pharmaceuticals today said it will acquire a 20% stake in a subsidiary firm of Hong Kong-based Tricon Holdings in a cash deal of $20 million (Rs 99.7 crore).
In a filing to the Bombay Stock Exchange, the pharma firm said it will acquire a 20% outstanding shares of the Tricon's subsidiary for a cash purchase consideration of $20 million.
However, the company has not disclosed details of the subsidiary firm of Tricon Holdings Ltd.
This acquisition will help the company to further consolidate its position in the Commonwealth of Independent States (a regional organisation whose participating countries are from the erstwhile USSR) market, Plethico Pharma CEO Chirag Patel said.
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