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July 27, 2001 		Feedback  
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Boehringer Ingelheim to sell German Remedies stake to Cadila

Germany's Boehringer Ingelheim International AG has offered to sell its 4.62 per cent stake in German Remedies Ltd to Cadila Healthcare Ltd, a Cadila official said on Friday.

Cadila acquired a 27.72 per cent stake in German Remedies from German firms Asta Medica and Heller AG in April, and has made an offer to all other shareholders for a further 20 per cent stake in line with Indian stock market rules.

"Boehringer has made an offer to sell their holding to us as part of the open offer," D D Sanghvi, Cadila's company secretary, said.

Cadila's open offer to shareholders opened on July 18 and will close on August 16.

Cadila president Ganesh Nayak said that Boehringer Ingelheim would continue to license its products out to German Remedies even if it sold its stake.

"The licensing arrangement will continue whether or not Boehringer holds equity in German Remedies," he said.

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