FIPB clears Mylan's acquisition of Agila Specialities
The acquisition has now been referred to the Cabinet Committee of Economic Affairs (CCEA).
New Delhi, September 29, 2013: The Foreign Investment Promotion Board (FIPB) has recommended Mylan Inc’s Rs 5,168 crore acquisition of Strides Acrolab’s subsidiary Agila Specialities to the Cabinet Committee on Economic Affairs (CCEA) for final clearance.
FIPB also cleared 15 other FDI proposals worth Rs 2,000 crore. The other cleared proposals include Jubilant Pharma Pte, Singapore (Rs 1145.1 crore), Lotus Surgical Specialities (Rs 150 crore), Symbiotec Pharmalab (Rs 306.19 crore) and Advanced Enzyme Technologies (Rs 200 crore).