Beximco Pharmaceuticals Limited ( Beximco Pharma or the Company , or the Group ; AIM Symbol: BXP, LEI No.: 213800IMBBD6TIOQGB56), the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, announces it has entered into a binding commitment with Sanofi group regarding the acquisition of a majority stake in Sanofi Bangladesh Limited ( Sanofi Bangladesh ) for a base-price consideration of circa £35.5 million, to be adjusted as set out below (the Proposed Transaction ). The Proposed Transaction is subject to approval by the Foreign Exchange Investment Department of Bangladesh Bank and completing the Share Purchase Agreement. · Expands the Company s product offering and reinforces its strategy to diversify into new and expanding specialty therapy areas
Chief Economics Correspondent,
bdnews24.com
Published: 21 Jan 2021 08:47 PM BdST
Updated: 21 Jan 2021 08:56 PM BdST
Beximco Pharmaceuticals has struck an agreement to acquire a 54.6 percent majority stake in French pharmaceutical giant Sanofi’s Bangladesh unit at a base price of £35.5 million. );
}
The country’s leading manufacturer and exporter of medicines announced the development in a media statement on Thursday evening.
Sanofi Group currently holds 54.6 percent shares in the paid-up capital of Sanofi Bangladesh.
Of the remaining shares, around 25.36 percent are held by the Ministry of Industries while Bangladesh Chemical Industries Corporations owns nearly 19.96 percent, it read.
The proposed acquisition is subject to the government’s clearance and completion of a definitive Sale and Purchase Agreement. It is anticipated that the acquisition would be completed within the next three to nine months, the statement added.
Beximco Pharmaceuticals (AIM:BXP) | RNS | Beximco Pharmaceut - Proposed acquisition of stake in Sanofi Bangladesh proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.
Beximco Pharma to acquire a majority stake in Sanofi Bangladesh Limited
355
DHAKA, Jan 21, 2021 (BSS) – Beximco Pharmaceuticals Limited today announces that it has signed agreement (binding commitment) to acquire a majority shareholding (54.6 percent) in Sanofi Bangladesh Limited (Sanofi Bangladesh), a concern of French pharmaceutical giant Sanofi with global sales in excess of Euro 36 billion in 2019.
Sanofi Group currently holds 54.6 percent shares in the paid-up capital of Sanofi Bangladesh, said a press release.
The remaining shares are held by the government of Bangladesh represented by the Ministry of Industries (approx. 25.36 percent) and Bangladesh Chemical Industries Corporations (approx.19.96 percent).
The Proposed Acquisition is subject to Bangladesh government clearance (including necessary approval of the Transaction by the Foreign Exchange Investment Department and Bangladesh Bank) and completion of a definitive Sale and Purchase Agreement. It is anticipated that