Natco Pharma Clears Key Hurdle in Adcock Ingram Acquisition with Shareholder Nod

Image Source: The Economic Times

Natco Pharma has received shareholder approval for its proposed acquisition of Adcock Ingram Holdings Ltd in South Africa. The scheme will allow Natco to acquire all remaining ordinary shares not held by Natco, Bidvest, or treasury. With 98.66% votes in favor, the deal now awaits final regulatory clearances.

Natco Pharma Ltd has moved a step closer to completing its strategic acquisition of South Africa-based Adcock Ingram Holdings Ltd. Shareholders of Adcock Ingram have overwhelmingly approved the Scheme of Arrangement proposed by Natco Pharma South Africa, Natco’s wholly owned subsidiary, to acquire all remaining ordinary shares not already held by Natco, Bidvest Group, or as treasury stock.

Key Highlights:

Shareholder Approval: At the general meeting held on October 9, 2025, 98.66% of votes cast were in favor of the acquisition scheme, with only 1.34% against. A total of 36.8 million shares were voted, representing 73.16% of the total issued shares entitled to vote.

Offer Details: Natco Pharma had earlier submitted a firm intention to acquire minority-held shares at ZAR 75 per share. The offer excludes shares already held by Natco and Bidvest, which together hold a controlling stake.

Next Steps: The scheme remains subject to the fulfillment or waiver of outstanding conditions precedent, including regulatory approvals and the issuance of a compliance certificate by South Africa’s Takeover Regulation Panel (TRP).

Strategic Rationale: The acquisition will allow Natco to consolidate its position in Adcock Ingram, a leading pharmaceutical company known for brands like Panado, Allergex, and Myprodol. The move is expected to enhance Natco’s footprint in the African healthcare market.

Market Impact: Analysts view the deal as a strategic win for Natco, enabling operational synergies, broader market access, and streamlined governance. The acquisition also ends Adcock’s prolonged minority shareholder structure, simplifying ownership.

This development marks a significant milestone in Natco Pharma’s global expansion strategy. With shareholder approval secured, the company is now focused on completing regulatory formalities and integrating Adcock’s operations to unlock long-term value.

Sources: 1. FilingReader 2. Indian Pharma Post 3. BusinessTech South Africa

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