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news.Daiichi Sankyo Company and Ranbaxy Laboratories have closed their acquisition deal with the execution of the final transfer of the remaining equity shares of the Singh family, in Ranbaxy. Pursuant to this, Daiichi Sankyo has now acquired 63.92% of the equity share capital of Ranbaxy comprising 268.71 million shares.
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Ranbaxy earlier had received an amount of $736 million from Daiichi Sankyo for the preferential issue of equity shares and warrants. This will be used to further drive the company’s growth through organic and inorganic means while also retiring some debt at an appropriate time.
According to Daiichi Sankyo, continuing to operate as an independent and autonomous company, Ranbaxy will work closely with it to explore and optimize the growth opportunities across the pharmaceutical value chain.
Malvinder Mohan Singh, CEO & managing director of Ranbaxy, said: “We are pleased that the deal has been closed successfully. This puts us well on the path to create a hybrid business model that will unlock the strengths of both companies to bring value to all stakeholders.”
Takashi Shoda, president & CEO of Daiichi Sankyo, said: “We are pleased to announce that all the planned transactions of this landmark deal have been successfully completed. We are determined to work with Ranbaxy to realize sustainable growth.”