{"id":839557,"date":"2025-10-10T08:42:46","date_gmt":"2025-10-10T06:42:46","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=839557"},"modified":"2025-10-10T08:42:50","modified_gmt":"2025-10-10T06:42:50","slug":"indian-company-buying-big-chunk-of-south-african-pharmaceutical-giant","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/839557\/indian-company-buying-big-chunk-of-south-african-pharmaceutical-giant\/","title":{"rendered":"Indian company buying big chunk of South African pharmaceutical giant\u00a0"},"content":{"rendered":"\n

India-listed Natco Pharma has received the go-ahead to acquire a significant stake in Adcock Ingram, with the South African company\u2019s shareholders voting in favour of a deal. <\/p>\n\n\n\n

Natco Pharma specialises in research, development, manufacturing, and marketing finished dosage formulations and active pharmaceutical ingredients. <\/p>\n\n\n\n

In July, Natco Pharma offered R75 per share to buy out JSE-listed Adcock Ingram\u2019s minority shareholders.\u00a0<\/p>\n\n\n\n

Adcock operates, manufactures, markets, and distributes various healthcare products, including Panado, Allergex, and Myprodol. <\/p>\n\n\n\n

Anchor Capital Equity Analyst Sean Culverwell <\/a>broke down the offer when it was announced, noting that the offer represented a way to end Adcock\u2019s long spell in \u201cminority purgatory.\u201d\u00a0<\/p>\n\n\n\n

\u201cSince Bidvest took control of the company in 2019 (via a 64.25% stake), the free float has dwindled, and liquidity has dried up, so a delisting always felt inevitable,\u201d said Culverwell. <\/p>\n\n\n\n

\u201cIf the offer is accepted, Natco will hold a 35.75% stake in Adcock Ingram, valued at c. R4 billion, and it will be delisted from the JSE.\u201d<\/p>\n\n\n\n

Culverwell said that the bidder came as a surprise to Anchor Capital, even if Bidvest has signalled that it it prioritising capital to scale its offshore services platform, with Bidcorp potentially being unbundled. <\/p>\n\n\n\n

\u201cAgainst that backdrop, Natco\u2019s move and Bidvest\u2019s choice to hold both make sense to us,\u201d he added. <\/p>\n\n\n\n

\u201cBidvest\u2019s 64% stake is excluded from the deal, and we believe retaining it is a strategically sound move.\u201d<\/p>\n\n\n\n

\u201cThis decision underscores Bidvest\u2019s confidence in Adcock\u2019s defensive earnings and domestic diversification, which still suit Bidvest\u2019s local portfolio.\u201d <\/p>\n\n\n\n

Shareholders give the nod<\/h2>\n\n\n
\n
\"\"<\/a><\/figure><\/div>\n\n\n

The deal has now received the go-ahead from shareholders at the group\u2019s general meeting held on 9 October 2025, with 98.66% of scheme members voting in favour of the deal. <\/p>\n\n\n\n

The scheme remains subject to the fulfilment of the waiver of the outstanding conditions precedent set out in the circular. <\/p>\n\n\n\n

Once the scheme becomes unconditional and the Takeover Regulation Panel has issued a compliance certificate, the issued shares will be delisted from the Main Board of the JSE. <\/p>\n\n\n\n

Shareholders recorded on the Adcock Securities Register on the Scheme Record Date will receive the Per Share Scheme Consideration of R75.00 per share. <\/p>\n\n\n\n

The final salient dates for implementing the Scheme and delisting Adcock Ingram from the JSE will be announced in due course.<\/p>\n\n\n

\n
\"\"<\/a>
Adcock Ingram Share Price<\/figcaption><\/figure><\/div>\n\n\n
\n","protected":false},"excerpt":{"rendered":"

India-listed Natco Pharma looks set to acquire a large stake in Adcock Ingram, which will delist from the JSE. <\/p>\n","protected":false},"author":95,"featured_media":839559,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[13311,11827,4473,23784],"class_list":["post-839557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-adcock-ingram","tag-anchor-capital","tag-bidvest","tag-natco-pharma"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/839557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=839557"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/839557\/revisions"}],"predecessor-version":[{"id":839562,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/839557\/revisions\/839562"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/839559"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=839557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=839557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=839557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}