FIL Capital to invest in Cipla's consumer healthcare business

Cipla Ltd shareholders have approved a potential investment by FIL Capital Investments (Mauritius) II Limited in its consumer healthcare business.

In a filing to the BSE Cipla said that its Board of Directors of the Company at its meeting held on July 20, 2015, have "approved a potential investment by FIL Capital Investments (Mauritius) II Limited, or any of its affiliate in a wholly owned subsidiary of Cipla Limited (proposed to be incorporated) to whom Cipla will be divesting its consumer healthcare business on a going-concern basis."

"The approval is subject to execution of binding agreements, and the transaction will be subject to relevant regulatory approvals. None of the persons belonging to Promoter / Promoter Group(s) of the Company has any interest in the transaction", said the filing.