www.fdanews.com/articles/70744-jubilant-organosys-to-acquire-us-drug-firm
Jubilant Organosys to Acquire US Drug Firm
April 6, 2005
Pharmaceuticals company Jubilant Organosys has signed a memorandum of understanding
(MoU) to acquire a 75% stake in a generic pharmaceutical company in the United
States for US$8.25 million. "At present due diligence process is going
on and we expect it to be over in a month's time," a company spokesperson
told PTI without divulging the name of the company to be acquired, citing a
confidentiality agreement. Under the MoU JOL would pay $8.25 million to the
existing shareholders of the target company and invest an additional $12 million
in its growth capital for a period of two years. The acquisition will be value
accretive.
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