Aurobindo Pharma has entered into a share purchase agreement today to acquire 100 per cent equity share capital of MViyeS Pharma Ventures. MViyeS holds 32.18 per cent shareholding in Eugia Pharma Specialities, a JV company engaged in developing, manufacturing and marketing hormonal and oncology generic formulations.
Through Curepro Parentarals (Curepro), its wholly-owned subsidiary, Aurobindo Pharma, holds 67.82 per cent of equity share capital of Eugia Pharma Specialities.
The cost of acquisition is Rs 274.22 crores for a total of 15,02,49,382 equity shares of Rs 10/- each at a price of RS.18.25 per share.
By this acquisition, both Eugia Pharma Specialities and MViyeS Pharma Ventures will become 100 subsidiaries of Aurobindo Pharma.