Japanese firm buys Ranbaxy
Home grown multinational Ranbaxy Laboratories Ltd, India's largest pharmaceutical company, now has a Japanese owner - Daiichi Sankyo Co.
Promoters Malvinder Mohan Singh and Shivinder Mohan Singh, grandsons of Bhai Mohan Singh, a refugee who bought the company in the after math of India's partition, on Wednesday said they were selling their entire stake, 34.82 per cent, in Ranbaxy to Daiichi Sankyo Holdings for Rs 9,576 crore ($2.4 billion).
The deal, the biggest ever sell off by an Indian business family marks a full , circle for Ranbaxy that started off in 1937 as a distributor for another Japanese company Shionogi. Bhai Mohan Singh bought the company in 1952 - from his cousins Ranjit Singh and Gurbax Singh, whose names combined to form the Ranbaxy brand. It was after Parvinder Singh, Bhai Mohan's son, joined the company in 1967 that Ranbaxy saw a significant transformation in its business and scale.
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To read the ePaper, visit: http://epaper.hindustantimes.com
Promoters Malvinder Mohan Singh and Shivinder Mohan Singh, grandsons of Bhai Mohan Singh, a refugee who bought the company in the after math of India's partition, on Wednesday said they were selling their entire stake, 34.82 per cent, in Ranbaxy to Daiichi Sankyo Holdings for Rs 9,576 crore ($2.4 billion).
The deal, the biggest ever sell off by an Indian business family marks a full , circle for Ranbaxy that started off in 1937 as a distributor for another Japanese company Shionogi. Bhai Mohan Singh bought the company in 1952 - from his cousins Ranjit Singh and Gurbax Singh, whose names combined to form the Ranbaxy brand. It was after Parvinder Singh, Bhai Mohan's son, joined the company in 1967 that Ranbaxy saw a significant transformation in its business and scale.
To read the full article, click here...
To read the ePaper, visit: http://epaper.hindustantimes.com
Labels: buys, Indian business, Japan, Japanese firm, largest pharmaceutical company, multinational Ranbaxy Laboratories Ltd, Ranbaxy, Shionogi
posted by PressMart Team at
11:07 AM
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