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news.Fresenius Kabi, a business segment of health care group Fresenius, has acquired 73.3 % of the share capital of the Indian company Dabur Pharma for a price of INR8,782 million or INR76.50 per share in cash.
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In accordance with Indian regulations, Fresenius Kabi also announced a public offer to acquire up to a further 20% shareholding for a price of INR76.50 per share in cash. Fresenius Kabi has entered into an agreement with a third party to secure the participation of 2.4% of Dabur Pharma’s share capital in the public offer.
The acquisition significantly expands Fresenus Kabi’s i.v. drug portfolio and secures its supply of high quality APIs for cytostatics. With the acquisition of Dabur Pharma, Fresenius Kabi will also broaden its offering of patient-specific oncology therapies. In future, Dabur Pharma will supply Fresenius Kabi’s compounding centres in Europe, Asia-Pacific and Latin America where patient-specific formulations of i.v. drugs and parenteral nutrition are being prepared for cancer patients.
Closing of the transaction is subject to completion of the public offer process in line with local regulations as well as relevant approvals required under Indian law. This is expected to occur at the beginning of third quarter of 2008.