Matrix Laboratories acquires residual holding in Mchem Group

28-Jan-2008

Matrix Laboratories Limited, through its wholly owned subsidiary had, earlier, executed definitive agreements with the erstwhile promoter of MChem group of companies, China to acquire his residual shareholding in MChem group of companies. Consequent upon the receipt of the applicable approvals, the transaction for purchase of the residual stake has been completed. With the purchase of the residual stake, the effective holding of Matrix Laboratories Limited in MChem group of companies, through its wholly owned subsidiary, stands at 97%.

MChem manufactures a number of intermediates and Active Pharmaceutical Ingredients (APIs). Therefore, the acquisition of the residual stake of erstwhile promoter is strategic for enhancing the vertical integration opportunities for Mylan and Matrix.

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