Samuda Chemical Complex Ltd, a concern of TK Group, has acquired 94 per cent shares of Therapeutics Bangladesh. The purchase price for the acquisition is stated to be Tk30 Crore.
The acquired company still has a two-storey factory complex of 83,000 square feet at Chattogram BSCIC Industrial Area with licences to manufacture over 150 generic drugs, unpaid utility bills and bank loans.
TK Group’s concern, Samuda Chemical Complex Ltd and Samuda Food Products Ltd plans to invest Tk1,700 Crore at Bangabandu Sheikh Mujib Shilpa Nagar based in Chittagong.
The market capitalization of Therapeutics Bangladesh is Tk50 Crore which has been purchased at Tk30 Crore that is at a discount since the acquiring company needs to invest in machinery and pay back unpaid utility bills and bank loans.