Laurus Labs acquireAspen Pharmacare subsidiary in South Africa

Laurus Labs to acquire the Aspen Pharmacare subsidiary in South Africa

11:00 AM, 19th September 2019
Laurus Labs logo

HYDERABAD, INDIA: Laurus Labs has agreed to acquire 100 percent shares of Phekolong Pharmaceuticals Pty Ltd, a wholly owned subsidiary company of Pharmacare Ltd t/a Aspen Pharmacare, South Africa.

The transaction is valued at cash consideration of ZAR 75,000 (Seventy-five thousand South African Rands).

The acquisition is expected to be completed by end of November 2019.

At the conclusion of the transaction, all residual assets and liabilities that are within the target company immediately prior to completion will be for Pharmacare Limited's account and accordingly all such assets and liabilities will be transferred from the target company to Pharmacare Limited immediately prior to completion.

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