Sun Pharma arm acquires remaining 3.04 per cent stake in PJSC Biosintez

The company’s subsidiary – Sun Pharma (Netherlands) BV – already had 96.96 per cent stake in pharma firm PJSC Biosintez prior to the purchase of these shares

Sun Pharmaceutical Industries said its Netherlands-based arm has fully acquired PJSC Biosintez, Russia by purchasing 3.04 per cent stake in the company under the mandatory tender offer. The company’s subsidiary — Sun Pharma (Netherlands) BV — already had 96.96 per cent stake in pharma firm PJSC Biosintez prior to the purchase of these shares, Sun Pharma said in a filing to the BSE.

Post the purchase, Sun Pharma (Netherlands) BV’s shareholding in the target entity has increased from 96.96 per cent to 100 per cent, it added.

Cash consideration of Rubles 54,194,628.60 equivalent to $815,201.99 (about Rs 6 crore) was paid to shareholders who tendered their respective shares in the mandatory tender offer, Sun Pharma said.