New Delhi, March 21: Sun Pharmaceutical Industries on Monday said it has entered into a share purchase agreement with Japan's Daiichi Sankyo Company to acquire the latter's 11.28 per cent stake in Zenotech Laboratories.

Sun Pharma said it will pay Rs 5.32 crore for the stake. The primary objective of the transaction from acquirer's perspective is to consolidate its holding in the target company, the Mumbai-based drug firm said in a regulatory filing. LPG Cylinder Price Hike: Cooking Gas Price Hiked by Rs 50 Per Cylinder.

After the acquisition, Sun Pharma's stake in Zenotech will increase from 57.56 per cent to 68.84 per cent, it added. The acquisition is expected to complete in 30 days.

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