Cipla plans to pay $512 million for Cipla Medpro

Indian drug-maker Cipla plans to buy the whole of South Africa's Cipla Medpro, and raises its November offer price.

Cipla plans to pay $512 million for Cipla Medpro

Cipla, a leading Indian drugs company, has made a renewed bid to buy one of its customers, South Africa’s Cipla Medpro, in a deal worth R4.5 billion $512 million. Medpro’s board of directors intends to recommend Cipra’s offer, which will be through a scheme of arrangement rather than a tender.

A shareholder meeting will be convened within the next three months, according to a person familiar with proposal, where a minimum 75% vote will...

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