Johannesburg:India's Natco Pharma is set to buy significant stakes in 135-year-old South African pharmaceutical major Adcock Ingram, as part of a deal valued at R 4.2 billion. The acquisition will result in Adcock Ingram becoming a privately held company, jointly owned by Natco Pharma and Bidvest Group, which will remain the majority shareholder. The transaction was approved during a shareholders’ meeting of Adcock Ingram, where Natco’s proposal to acquire all ordinary shares in the company received the green light. Natco made a firm offer in July this year, the company announced in a statement on the Johannesburg Securities Exchange(JSE) on Friday.
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