On 14 March 2023, the Board of Directors of Cipla Quality Chemical Industries Limited (the “Company”) was advised by Africa Capitalworks SSA 3 (the “Offeror”) of its intention to acquire 51.18% of the issued ordinary shares of the Company (“Shares”), as to 51.05% from Meditab Holdings Limited and 0.13% from Cipla (EU) Limited (the “Transaction”). The sellers are both wholly owned by Cipla Limited.
The Board has been informed that the Offeror has applied to the Capital Markets Authority for approval of this transaction in line with the Capital Markets (Takeovers and Mergers) Regulations, 2012. This transaction, if approved, will lead to a change in the Company’s shareholding structure.
Shareholders and the public are hereby notified of this development and are advised to exercise caution when dealing in the Shares of the Company.
