Ranbaxy successfully completes deal with Daiichi Sankyo

Ranbaxy Laboratories and Daiichi Sankyo announced the successful closure of their transformational deal with the execution of the final transfer of the remaining equity shares of the Singh family, in Ranbaxy. Pursuant to this, Daiichi Sankyo has now acquired 63.92% of the equity share capital of Ranbaxy comprising 268,711,323 shares as under: Particulars No of shares (in lacs) Acquisition of shares under open offer 925.2 Allotment of share under preferential basis 462.6 Acquisition of shares from Singh Family 1,299.3 Takashi Shoda, President and CEO of Daiichi Sankyo said, "We are pleased to announce that all the planned transactions of this landmark deal have been successfully completed. We are determined to work with Ranbaxy to realize sustainable growth." Malvinder Mohan Singh, CEO and MD, Ranbaxy, said, "We are pleased that the deal has been closed successfully. This puts us well on the path to create a hybrid business model that will unlock the strength of both companies to bring unprecendented value to all stakeholders." Ranbaxy earlier had received an amount of Rs35.85bn (US$736mn) from Daiichi Sankyo for the preferential issue ot equity shares and warrants. This will be used to further drive the Company's growth through organic and inorganic means while also retiring some debt at an appropriate time. Continuing to operate as an independent and autunomous company, Ranbaxy will work closely with Daiichi Sankyo to explore and optimise the growth opportunities across the pharmaceuticals value chain.