Plethico to acquire 20% stake in Tricon's unit

New Delhi, Nov 28 (UNI) Herbal and nutritional products maker, Plethico Pharmaceuticals today said it will acquire a 20 per cent stake in a subsidiary of Tricon Holdings Ltd, a Hong Kong company dealing in pharma retail with sourcing base in the UAE, for 20 million dollars.

Under the terms of the agreement, 20 per cent outstanding shares will be acquired in the subsidiary for a cash consideration of 20 million dollars, the company said in a statement.

''We are pleased to announce this acquisition, which will help Plethico to further consolidate its position in the Commonwealth of Independent States (CIS) market,'' Plethico CEO and Whole-time Director Chirag Patel said.

UNI MP AB DS1302