Cipla has announced that Cipla Quality Chemical Industries Limited (CQCIL) ceases to be its subsidiary, following the completion of its stake sale in the Ugandan company.
In a statement to the stock exchanges, Cipla said that its wholly-owned subsidiaries Cipla (EU) Limited (UK) and Meditab Holdings Limited (Mauritius) completed the sale of their 51.18 percent stake in CQCIL (Uganda) for a consideration amount of $25 million (about ₹200 crore).
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“Accordingly, CQCIL has now ceased to be a subsidiary of the company with effect from 14th November, 2023,” it added.
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