{"id":46333,"date":"2023-03-15T19:44:27","date_gmt":"2023-03-15T19:44:27","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/mauritius-firm-seeks-to-acquire-majority-stake-in-cipla-quality-chemicals"},"modified":"2023-03-15T20:13:37","modified_gmt":"2023-03-15T20:13:37","slug":"mauritius-firm-seeks-to-acquire-majority-stake-in-cipla-quality-chemicals","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/mauritius-firm-seeks-to-acquire-majority-stake-in-cipla-quality-chemicals","title":{"rendered":"Mauritius firm seeks to acquire majority stake in Cipla Quality Chemicals"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Africa Capitalworks is seeking approval from Capital Markets Authority to acquire a controlling stake in Cipla Quality Chemicals.<\/p>\n

The Mauritius-based firm, Monito<\/b>r understands, is seeking to buyout Meditab Holdings, the current majority shareholders, as well as acquiring additional shares from Cipla European Union.<\/p>\n

Meditab currently holds a 51.05 stake in Cipla Quality Chemicals, which Africa Capitalworks is seeking to takeover in addition to 0.13 percent of Cipla European Union.<\/p>\n

In statement to shareholders issued through the Uganda Securities Exchange and a public notice published Wednesday, Cipla indicated that Africa Capitalworks had \u201capplied to Capital Markets Authority for approval of [the] transaction in line with the capital Markets [Takeover and Mergers] Regulations\u201d.<\/p>\n

\u201cThis transaction, if approved, will lead to a change in the company\u2019s shareholding structure. Shareholders and the public are hereby notified of this development and are advised to exercise caution when dealing in the shares of the company,\u201d the statement reads in part.<\/p>\n

In a notice of intention, Africa Capitalworks said the transaction is a strategic investment that seeks to create further growth opportunities, especially in technology, innovation and drugs manufacturing.<\/p>\n

Quality Chemicals Limited, which was founded by Emmanuel Katongole, Ferderick Kitaka Mutebi and George Baguma, who still hold a stake in Cipla Quality Chemicals, was acquired by Cipla in 2015.<\/p>\n

The three currently hold a 2.78 percent each with Meditab Holdings the largest shareholding of 51.05 percent.<\/p>\n

Other shareholders include Capitalworks, which holds an 11.15 percent stake and seeking to acquire more, and Amistad (TLG Capital) with an 11.5 percent stake.<\/p>\n

Government Employees Pension Fund (8.54 percent) NSSF (7.38 percent), Cipla EU (0.13 percent) and Joseph Yiga (0.11 percent) are the other investors, while 18 percent is held by individual investors through the Uganda Securities Exchange.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. Africa Capitalworks is seeking approval from Capital Markets Authority to acquire a controlling stake in Cipla Quality Chemicals. The Mauritius-based firm, Monitor understands, is seeking to buyout Meditab Holdings, the current majority shareholders, as well as acquiring additional shares from Cipla European Union. Meditab currently holds a 51.05 stake in Cipla Quality […]<\/p>\n","protected":false},"author":84,"featured_media":46332,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,240,234],"class_list":["post-46333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nMauritius firm seeks to acquire majority stake in Cipla Quality Chemicals - Uganda<\/title>\n<meta name=\"description\" content=\"Africa Capitalworks is seeking approval from Capital Markets Authority to acquire a controlling stake in Cipla Quality C ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/mauritius-firm-seeks-to-acquire-majority-stake-in-cipla-quality-chemicals\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mauritius firm seeks to acquire majority stake in Cipla Quality Chemicals\" \/>\n<meta property=\"og:description\" content=\"Africa Capitalworks is seeking approval from Capital Markets Authority to acquire a controlling stake in Cipla Quality C ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/mauritius-firm-seeks-to-acquire-majority-stake-in-cipla-quality-chemicals\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-15T19:44:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-15T20:13:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/03\/postQueueImg_1678896874.89.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/mauritius-firm-seeks-to-acquire-majority-stake-in-cipla-quality-chemicals#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/mauritius-firm-seeks-to-acquire-majority-stake-in-cipla-quality-chemicals\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mauritius firm seeks to acquire majority stake in Cipla Quality Chemicals\",\"datePublished\":\"2023-03-15T19:44:27+00:00\",\"dateModified\":\"2023-03-15T20:13:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/mauritius-firm-seeks-to-acquire-majority-stake-in-cipla-quality-chemicals\"},\"wordCount\":300,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/mauritius-firm-seeks-to-acquire-majority-stake-in-cipla-quality-chemicals#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/03\/postQueueImg_1678896874.89.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/mauritius-firm-seeks-to-acquire-majority-stake-in-cipla-quality-chemicals#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/mauritius-firm-seeks-to-acquire-majority-stake-in-cipla-quality-chemicals\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/mauritius-firm-seeks-to-acquire-majority-stake-in-cipla-quality-chemicals\",\"name\":\"Mauritius firm seeks to acquire majority stake in Cipla Quality Chemicals - 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