TOKYO and NEW DELHI, India, June 11 Daiichi SankyoCompany, Limited (TSE: 4568.JP) ("Daiichi Sankyo"), one of the largestpharmaceutical companies in Japan, and Ranbaxy Laboratories Limited(NSE/BSE: Ranbaxy/500359) ("Ranbaxy"), among the top 10 generic companies inthe world and India's largest pharmaceutical company, announced on June 11that a binding Share Purchase and Share Subscription Agreement (the "SPSSA")was entered into between Daiichi Sankyo, Ranbaxy and the Singh family, thelargest and controlling shareholders of Ranbaxy (the "Sellers"). Pursuant tothe Agreement, Daiichi Sankyo will acquire the entire shareholding of theSellers in Ranbaxy and further seek to acquire the majority of the votingcapital of Ranbaxy at a price of Rs737 per share with the total transactionvalue expected to be between US$3.4 to US$4.6 billion (currency exchange rate:US$1=Rs43). On the post-closing basis, the transaction would value Ranbaxy atUS$8.5 billion.
For more details, please check full text of the press release from DaiichiSankyo website: http://www.daiichisankyo.com/Contact: Motomi Takahashi (for Daiichi Sankyo) Dentsu Public Relations Inc. Phone: +81-3-5565-8434 E-mail: [email protected]
Ramesh L. Adige (for Ranbaxy) Executive Director- Corporate Affairs and Global Corporate Communications Ranbaxy Laboratories Limited Phone: +91-124-4135000 E-mail: [email protected]
SOURCE Daiichi Sankyo Company, Limited