Op­po­si­tion to Chile deal with Adcock

Weekend Argus (Saturday Edition) - - BUSINESS -

SOUTH Africa’s state pen­sion fund says it re­mains op­posed to a $1.2 bil­lion cash and stock takeover of­fer for lo­cal drug­maker Adcock In­gram from CFR Phar­ma­ceu­ti­cals and does not want shares in the Chilean com­pany.

Op­po­si­tion from the staterun Pub­lic In­vest­ment Cor­po­ra­tion ( PIC), the top share­holder in Adcock, is al­most cer­tain to de­rail the rare ChileSouth Africa tie- up that re­quires ap­proval from share­hold­ers hold­ing 75 per­cent of Adcock.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.