Lupin to setup joint venture in Australia

Lupin Ltd has announced that the Board of Directors of the Company at its meeting held on September 21, 2006, has approved the setting up of a joint venture subsidiary company in Australia by making an investment not exceeding Australian Dollars 10 million, in a phased manner. The said investment would be made either directly or through any intermediate wholly owned subsidiary of the Company. The Company will hold 87.5% of the equity capital of the subsidiary and the balance 12.5% will be held by the local partners.

Source : Equity Bulls

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