Cipla to sell 51% stake in Ugandan subsidiary

Cipla announced that it will sell a 51.18% stake held in its Ugandan subsidiary, Cipla Quality Chemical Industries Limited (CQCIL), following which it'll cease to be a subsidiary of the company. Cipla will receive about $25-30 million from Africa Capitalworks SSA 3 under the deal. The total net worth of the subsidiary was $44.08 million as on March 31, 2022.

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