Dr Reddy's acquires 93 per cent OctoPlus shares
The Indian firm has spent 27.4 million euro so far in a bid to acquire OctoPlus.
Hyderabad, February 12, 2013: Dr Reddy’s Laboratories (DRL) has so far managed to get nearly 93 per cent shares of OctoPlus NV in its favour by spending 27.4 million euro.
"During the offer period, which ended at 1800 hours CET on February 8, 2013 (the "Closing Date"), 37,233,244 shares, representing 70.7 per cent of the shares and a value of 19,361,286.88 euro, have been tendered for acceptance under the offer," DRL said in a statement.
"The 11,575,394 shares held by the offeror at 1800 hours CET on the Closing Date, together with the shares tendered under the offer, represent a total of 92.7 per cent of the shares,” the company added.
It is expected that this transaction will be completed by the end of the current financial year.