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South African Cipla still talking to India arm on deal
February 11, 2013, 11:55 am

[Getty Images]

[Getty Images]

South African pharmaceutical company Cipla Medpro says they have not received any communication from prospective Indian buyer, Cipla, that an acquisition deal has been put on hold, according to Reuters.

India’s Economic Times, citing the chairman of Cipla, has reported that Cipla’s $215 million bid for control of the South African company is on hold.

“I am aware of the that report but I have not been able to verify it and we have not received any communication from Cipla about its withdrawal from the talks,” Johan du Preez, Cipla Medpro’s acting CEO, told Reuters.

“As far as we are concerned, the talks are ongoing” said du Preez.

Shares in Cipla Medpro fell 4.2 per cent to 9.00 rand, still above the 8.55 rand Cipla offered in November last year.

Source: Agencies

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