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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
Beximco Pharmaceuticals (AIM:BXP) | RNS | Beximco Pharmaceut - Proposed acquisition of stake in Sanofi Bangladesh
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Beximco Pharma to acquire a majority stake in Sanofi Bangladesh Limited
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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