Cipla trades neutrally around 1% as company’s family rift cloud sales worth $7 billion, deal pricing under contention.
Cipla Ltd’s $7 billion sale plan faces complications due to disagreements within the Hamied family, the company’s promoters. Sources reveal that differences have emerged regarding the pricing of the deal and patriarch Yusuf K. Hamied’s decision to sell the drugmaker. Several family members have expressed concerns about the proposed pricing of approximately ₹1,200 per share and the family’s choice to exit a business that has spanned eight decades. The lack of consensus within the family may lead to a delay in the anticipated sale process.
At the time of reporting the company’s share were trading .84% up at ₹1164.80
