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Ranbaxy Promoters Selling Stake To A Japanese Company

Posted on June 10, 2008

Promoters of Ranbaxy Pharmaceuticals is rumoured to be selling a significant minority stake in the flagship pharma company to a Japanese firm. The stock market has already got the wind of such a deal, and Ranbaxy s share price rose 6.5 per cent on Monday. The company is holding a press conference today at 2 pm in Delhi. An announcement is expected today.Ranbaxy promoters - Malvinder and Shivinder Singh - are said to be selling as high as 31 per cent stake in the company. If the stake going to be sold is true, then that amounts to the exiting of the family from the business. The family owns a...

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