From The Economic Times · PTI · · 1m 10s
Sanofi Healthcare Buys Stake in Sanofi India
Sanofi Healthcare acquires 15.2% stake in Sanofi India for Rs 1,068 crore.
In brief
Sanofi Healthcare acquires 15.2% stake in Sanofi India for Rs 1,068 crore. Sanofi Healthcare India purchased 15.19% stake in Sanofi India for Rs 1,068.20 crore through open market transaction. Originally reported by The Economic Times.
Sanofi Healthcare India
Sanofi Healthcare India, a major subsidiary of global pharmaceutical leader Sanofi SA, bought nearly 15.2 per cent stake in Sanofi India through open market transaction.
Stake Purchase Details
Sanofi Healthcare India purchased 35 lakh shares, amounting to 15.19 per cent stake in Mumbai-based Sanofi India, for Rs 1,068.20 crore.
Share Price and Transaction
Shares were picked at an average price of Rs 3,052 apiece, taking the deal value to Rs 1,068.20 crore.
Hoechst's Shareholding
Hoechst GmbH, a promoter of Sanofi India, sold equal shares at the same price, reducing its holding to 45.17 per cent from 60.37 per cent.
Promoter Shareholding
The transactions did not alter the combined shareholding of promoters and promoter group entities in Sanofi India.
Stock Market Reaction
Shares of Sanofi India settled nearly 3 per cent higher at Rs 3,138 apiece on the NSE following the stake sale.
The short version
Sanofi Healthcare India purchased 15.19% stake in Sanofi India for Rs 1,068.20 crore through open market transaction.
