German drugmaker acquires 73 per cent of India's Dabur

Business Materials 20 April 2008 14:09 (UTC +04:00)

Germany's Fresenius SE acquired a 73-per-cent stake in India's largest anti-cancer drugmaker Dabur Pharma for 219 million dollars, news reports said Sunday. ( dpa )

The German firm bought the stake through its Singapore subsidiary Fresenius Kabi Pte at 76.27 rupees (1.91 dollars) per share, a 10.2 per cent premium over Dabur Pharma current share price on the Bombay Stock Exchange, the Economic Times Daily reported.

In a filing to the exchange, Dabur said promoters and other shareholders of the company had executed share purchase agreements with Fresenius Kabi Pte.

The acquisition would be subject to certain conditions including necessary regulatory approvals and compliance by Fresenius with public offer requirements under the SEBI regulations, it added.

Dabur Pharma is an associate company of the Dabur group which recorded a turnover of 420 million dollars in 2006. The firm sold its non-oncology drugs' business to local rival Alembic last year to focus on cancer-treatment medicines.

Fresenius SE is a global health care group with 105,000 employees. The Bad Homburg-based firm has products and services for dialysis, hospital treatment and medical care of patients at home.