This acquisition will further accelerate B. Braun’s growth in India.
B. Braun Melsungen AG (“B. Braun”), one of the world’s leading suppliers of healthcare products, announced today that a share purchase agreement (“SPA”) was entered into between its subsidiary - B. Braun Singapore Pte. Ltd. (“B. Braun Singapore”) and the Promoters of Ahlcon Parenterals (India) Limited (“Ahlcon”). Upon the completion of the transaction contemplated in the SPA, which is subject to certain regulatory approvals and completion of open offer to be made by B. Braun Singapore to the public shareholders of Ahlcon under the SEBI Takeover Code and other terms mentioned in the SPA, B. Braun will acquire upto 75% of the voting shares in Ahlcon. The agreement was signed between B. Braun Singapore and the Promoters of Ahlcon headed by Mr. Bikramjeet Ahluwalia for acquisition of agreed number of Ahlcon shares at Rs. 460.00 (Rs. Four Hundred Sixty) per equity share subject to the SPA. B. Braun Singapore will, after the approval of SEBI, issue a public offer for acquiring not more than 26% of the voting shares from the public shareholders of Ahlcon.
This acquisition will further accelerate B. Braun’s growth in India following the recent acquisition of controlling stake in Hyderabad based medical devices manufacturer Oyster Medisafe. The proposed transaction is in line with our strategy – “To be customer’s first choice in safe infusion therapy”, said Mr. Anand Apte – Country Head of B.Braun in India. “B.Braun is a leading player in India in medical devices, critical care, surgical instruments and renal care therapy and this transaction reaffirms B.Braun’s commitment to further increase market share in India. “With this acquisition, we will introduce many safe infusion therapy products in the Indian market and in other markets in the region”, said Mr. Anand Apte.
Under the terms of the SPA, B. Braun Singapore will make an open offer to the public shareholders of Ahlcon and subject to successful completion of the open offer and receipt of regulatory approvals required for the transaction and other terms of the SPA, acquire up to 75% stake in Ahlcon from the Promoters and public shareholders of Ahlcon.
About B. Braun
B. Braun is a German based privately held health care group devoted to the discovery, development, manufacture and marketing of medical devices, surgical equipments, renal care therapy, and critical care products. Founded in 1839, B.Braun is a pioneer of many products, including the first one – piece plastic cannulae, and plastic IV container to lipid emulsions. Presently, B.Braun operates in more than 50 countries and employs approximately 44,000 people globally. In 2011, B. Braun’s global revenue touched 4.6 billion Euros. With its brand promise of “Sharing Expertise”, B. Braun thrives on fundamental value of: innovation, efficiency and sustainability.
Ahlcon is a listed company, incorporated in 1992, under the Companies Act, 1956 and is having its registered office at 4, Community Centre, Saket, New Delhi-110017, India. Ahlcon manufacturers and markets wide range of large volume and small volume parenterals in India and abroad and is a well established OEM manufacturer. Ahlcon has product registrations in many African, Asian, European and CIS countries, where it exports its products.
Some statements in this news release may be forward-looking statements regarding the benefits of this acquisition, the business outlook, products and services. All the forward looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated. The economic, competitive, governmental, technological, and other factors might have impact going forward. B. Braun undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments.