HONG KONG: The pharmaceutical arm of Chinese conglomerate Fosun plans to buy a majority stake in India’s Gland Pharma Ltd. for as much as $1.26 billion, in what is being touted as the biggest Indian acquisition by a Chinese company.
Hong Kong-listed Shanghai Fosun Pharmaceutical Group will take an 86.08-percent stake in the drugmaker if the purchase completes, according to a filing to the Hong Kong stock exchange Friday.
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