Cipla sells Hong Kong based Biomab to Biomab Brilliant

Q.  Hong Kong based Biomab Holdings has been sold to Biomab Brilliant for USD 2.5 million by which company?
- Published on 25 Jan 16

a. Ranbaxy
b. Sun
c. Cipla
d. GlaxoSmithKline

ANSWER: Cipla
 
Cipla has sold its entire stake in Hong Kong based Biomab Holding Biomab Brilliant for USD 2.5 million. This company on January 22nd 2016 completed the transfer formalities in association with the divestment of the complete 25% stake in Biomab Holding Limited, Hong Kong, Cipla indicated in a BSE filing. Cipla has entered into an agreement to sell the stake in Biomab Holding to Biomab Brilliant Ltd for a consideration of USD 25,775,000 to focus on biological segment under its arm Cipla BioTec. Biomab Brilliant Ltd, British Virgin Islands held the remaining 75 per cent stake in BHL.

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