Aurobindo Pharma Ltd. announced on Friday that its subsidiary, Agile Pharma BV, based in the Netherlands, has acquired the entire share capital of Ace Laboratories Ltd. in the UK. This acquisition makes Ace Laboratories a wholly owned subsidiary of Agile Pharma BV.
The company was acquired for nearly Rs 18 crore on a debt-free basis.
The acquisition is largely for the captive purposes of the company's business requirements in the European region. Based on capacity utilisation, additional external revenue will also add to company's revenue stream, according to an exchange filing.
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