Aurobindo Pharma, Cadila Healthcare, UPL and two other companies are in the fray to acquire bankrupt Sterling Biotech Ltd. through the liquidation process. The other two companies in the race are ACG Associated Capsules and Gland Celsus Bio Chemicals.
Last month, the liquidator had invited bids for the liquidation process of Sterling Biotech to sell it as a going concern at a reserve price of Rs 548.46 crore.
Lovkesh Batra, a member of the Mamta Binani-led liquidation team told The Economic Times that the shortlist of entities looking to acquire the world’s sixth-largest manufacturer of pharmaceutical gelatin has been pared from about a dozen aspirants.
“The qualified bidders will have a time of 15 days beginning from August 23 to i…
Read the full article at: https://www.businesstoday.in/industry/pharma/story/aurobindo-pharma-cadila-3-others-in-race-to-acquire-sterling-biotech-304892-2021-08-22
