One of the wholly owned subsidiaries of the Sun Pharma has agreed to increase its shareholding in Ranbaxy Malaysia Sdn Bhd, Malaysia, by way of purchase of 666,985 shares of face value of MYR 1.00 each (equivalent to 8.3%) of Ranbaxy Malaysia Sdn Bhd.
Ranbaxy Malaysia Sdn Bhd., is a subsidiary of the Company, and the total shareholding of Sun Pharmaceutical Industries Ltd., alongwith its wholly owned subsidiary is 71.2%, prior to this proposed purchase of shares
Sun Pharma (Netherlands) BV, a wholly owned subsidiary of the Company has agreed to purchase 666,985 shares of face value MYR 1.00 each of the Target Entity. With this acquisition the total shareholding of Sun Pharma (Netherlands) BV in the Target Entity would increase from 2,507,617 (31.34%) shares to 3,174,602 shares (39.68%). Current shareholding of Sun Pharmaceutical Industries Ltd in the Target Entity is 3,189,248 shares (39.87%) which shall remain the same.
The total shareholding of Sun Pharmaceutical Industries Ltd., alongwith its wholly owned subsidiary in the Target Entity will increase from 71.2% to 79.5% post this purchase of shares.
The acquisition of shares would not fall within related party transaction(s), as the shares are being acquired by Sun Pharma (Netherlands) BV from a Local (Malaysian) shareholder i.e. Status Resources Sdn. Bhd.
Group companies have an interest in the entity being acquired as Sun Pharmaceutical Industries Ltd. and Sun Pharma (Netherlands) BV are already the existing shareholders of the Target Entity among other shareholders in the Target Entity.
Cost of acquisition or the price at which the shares are acquired MYR 4.29 per share of face value MYR 1.00 each. Total consideration is MYR 2,861,365.65
