Plethico Pharmaceuticals Ltd has informed regarding a Press Release dated November 28, 2008 titled Plethico Pharmaceuticals Ltd to acquire 20% stake in CIS Retail Pharmacy Chain Company
Press Release: Plethico Pharmaceuticals Ltd announced today that it has agreed to acquire a 20% stake in a subsidiary of Tricon Holdings Ltd, Hong Kong a leading Company dealing in pharma retail with sourcing base in the UAE.
Singhi Advisors (India) served as financial advisors to Plethico. Under the terms of the effective agreement, 20% of outstanding shares will be acquired in the subsidiary for a cash purchase consideration of $ 20 Million.
Chirag Patel, CEO & Whole Time Director, Plethico., said at the occasion, We are pleased to announce this acquisition, which will help Plethico to further consolidate its position in the Commonwealth of independent States (CIS) market. The acquisition brings under our fold a strong presence in CIS Retail Pharmacy.
He added that, CIS is largely a credit hungry market and the only near cash business in CIS, in our experience is, retail pharmacy, and hence our long standing desire of owning a share in the CIS retail pharmacy has been fulfilled.
Press Release: Plethico Pharmaceuticals Ltd announced today that it has agreed to acquire a 20% stake in a subsidiary of Tricon Holdings Ltd, Hong Kong a leading Company dealing in pharma retail with sourcing base in the UAE.
Singhi Advisors (India) served as financial advisors to Plethico. Under the terms of the effective agreement, 20% of outstanding shares will be acquired in the subsidiary for a cash purchase consideration of $ 20 Million.
Chirag Patel, CEO & Whole Time Director, Plethico., said at the occasion, We are pleased to announce this acquisition, which will help Plethico to further consolidate its position in the Commonwealth of independent States (CIS) market. The acquisition brings under our fold a strong presence in CIS Retail Pharmacy.
He added that, CIS is largely a credit hungry market and the only near cash business in CIS, in our experience is, retail pharmacy, and hence our long standing desire of owning a share in the CIS retail pharmacy has been fulfilled.
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