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Cipla India to acquire 25% stake in CMM

Cipla India is to acquire a 25 percent stake in the manufacturing division (CMM) of South Africa's third largest pharmaceutical group Cipla Medpro South Africa, it was announced on Tuesday. Ciplo Medpro SA said it was cognisant of the need to increase volume in CMM and so was inthe process of finalising an agreement with Cipla India regarding the acquisition the consideration of which will be a “nominal value”. “Pursuant to this, Cipla India will provide additional volume and assist us in achieving World Health Organisation (WHO) and Food and Drug Administration (FDA) manufacturing approvals in the near future, resulting in increased orders and business for our factory.” “This will ensure better continuity, increased capacity utilisation and further entrench the relationship with Cipla India,” the pharmaceutical group said. […]

Everstone Capital to raise $350m India logistics fund

Everstone Capital, the India-focused private equity and real estate investor founded by two former Goldman Sachs executives, is seeking to raise up to $350m to invest in warehouses in India, according to Bloomberg. The firm has already invested a quarter of its $240m Indospace Logistics Parks fund, and may seek to begin fundraising at the end of 2011, after 75 per cent of the logistics parks fund has been allocated. The firm is shoring up its reserves for industrial real estate and warehousing infrastructure investment because of a shift in India from a regional tax structure to a goods and services tax regime, expected to result in companies consolidating from regional warehouses to larger, centralised distribution centres. […]