Wanbury to acquire Spanish Co
The company will also seek shareholders approval through postal ballot for making investments of upto Rs 400 crores for acquisitions or loans.
By PTI |
MUMBAI: Pharma company Wanbury Ltd on Monday said it will acquire the branded generic business of Spain-based Industrial Farmaceutica Cantabria through Cantabria Pharma SL for 50 millon Euro.
The board of directors approved the acquisition of the branded generic business of Industrial Farmaceutica Cantabria for 50 million Euro, the company informed the Bombay Stock Exchange.
The company will also seek shareholders approval through postal ballot for making investments of upto Rs 400 crores for acquisitions or loans.
The board also approved borrowing 34 million Euro to make an investment in Wanbury Holdings, wholly owned subsidiary of the company and in Cantabria Pharma, it added.
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