Cipla acquires 33% stake in Clean Max Auriga Power.
- ByStartupStory | December 16, 2021
Drug manufacturer Cipla limited said in a statement that it has inked a pact to acquire 33 per cent stake in renewable energy firm Clean Max Auriga Power LLP for up to Rs 6 crore.The company will invest up Rs 6 crore for the 33 per cent stake in the target firm.
In a regulatory filing the drug maker said, “ In line with the commitment to enhance the share of renewable power source in its operation and to comply with regulatory requirement for being a captive user under electricity laws, the company has entered into agreements to acquire up to 33 per cent partnership interest in Clean Max Auriga Power LLP”
Clean Max Auriga Power LLP is a special purpose vehicle engaged in the business of production, supply, and distribution of solar, wind and other renewable energy. Following the acquisition Clean Max Auriga Power LLP will become an associate of Cipla.
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