FIPB clarifies on Stericat Gut proposal

Our Bureau New Delhi | Updated on January 24, 2018

The Ministry of Finance clarified on Thursday that the foreign investment proposal of Stericat Gut Strings has been approved only for the acquisition of shares by the foreign investor for a cash consideration. However, the part of the proposal involving acquisition of shares by way of share swap has been rejected. In a press release of June 17, the Finance Ministry had said that the Foreign Investment Promotion Board had granted approval to Stericat Gut proposal to sell 77.5 per cent stake to Groupe Peters Surgical LLC, 22.5 per cent of which would be via share swap.

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Published on June 18, 2015
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