Jubilant Pharma Limited (JPL), a Singapore-based wholly-owned subsidiary of Jubilant Life Sciences Limited, has commenced a tender offer to acquire the remaining minority stake it doesn’t own in US-based Cadista Holdings which may cost it as much as $33.2 million, as per a stock market disclosure.
JPL, through its indirect subsidiary Jubilant Generics Inc, has offered to buy all of the remaining 17.6 per cent stake at $1.6 a share.
This is conditional upon it acquiring at least 8.9 per cent stake, or majority of the outstanding shares held by the minority investors.
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