<article>Asahi India has partnered with some industry executives to launch a joint venture called Scopfy Components Pvt. Ltd even as Cipla Ltd is selling its indirect subsidiary Cipla Croatia d.o.o.</article>

Asahi India has partnered with some industry executives to launch a joint venture called Scopfy Components Pvt. Ltd even as Cipla Ltd is selling its indirect subsidiary Cipla Croatia d.o.o.
<h3 style="text-align: justify;">Asahi India to buy Timex unit through JV</h3>
Asahi India will buy <a href="https://www.dealstreetasia.com/?s=Timex+Group" target="_blank" rel="noopener">Timex Group</a>&#8216;s precision engineering venture <a href="https://www.dealstreetasia.com/?s=Timex+Group+Precision" target="_blank" rel="noopener">Timex Group Precision</a> through its joint venture firm Scopfy Components Pvt Ltd.
The company has formed the JV in participation of few industry executives for the acquisition, according to a stock market disclosure. Padmini VNA Mechatronics founder Kabir Bhandari, YoNao Capital managing director Rahul Mookerjee and Info Edge (India) Ltd non-executive chairman Kapil Kapoor will also invest in Scopfy.
“This is a strategic and long-term investment for Asahi India, which will not only help the company in securing supply chain integrity through backward integration, but also diversify its operations,” said Sanjay Labroo, managing director, Asahi India Glass.
Timex Group Precision Engineering, a wholly owned Indian subsidiary of Timex Nederland BV, was started in 2008. It manuactures tools, moulds and high-precision plastic components.
<h3 style="text-align: justify;">Cipla to sell Crotian arm for $1.1m</h3>
<a href="https://www.dealstreetasia.com/?s=Cipla+Ltd" target="_blank" rel="noopener">Cipla Ltd</a>, India’s second largest drug maker by revenue, is selling its indirect subsidiary Cipla Croatia d.o.o. to PharmaS d.o.o. as a part of its strategy to operate a business-to-business model in Europe for $1. million.
Cipla has signed an agreement with PharmaS through its Netherlands-based arm Cipla Holding BV for the sale, and will pay $550k upfront and the remaining amount will paid in two tranches, according to a stock market disclosure.
Zagreb-based pharmaceutical company PharmaS manufactures and distributes generic drugs. The company was started in 2009.
Early this year, Cipla <a style="color: #000080;" href="http://Early this year, Cipla sold its animal health business in South Africa to Ascendis Health Ltd for 375 million rand (about Rs192 crore)." target="_blank" rel="noopener">sold</a> its animal health business in South Africa to Ascendis Health Ltd for 375 million rand (about Rs192 crore).
Also Read:
<a href="https://www.dealstreetasia.com/stories/india-dealbook-saif-divest-stake-in-speciality-restaurants-cipla-to-buy-anmarate-69485/" target="_blank" rel="noopener">Cipla to buy South African pharma co Anmarate for $1.8m</a> 
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/cipla-inks-pact-to-divest-animal-health-business-in-south-africa-66593/" target="_blank" rel="noopener">India: Cipla to sell animal health business in S Africa to Ascendis</a>

Asahi India has partnered with some industry executives to launch a JV called Scopfy Components Pvt. Ltd even as Cipla Ltd is selling Cipla Croatia d.o.o.

India Digest: Asahi India Glass JV; Cipla to sell Croatian subsidiary

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

India Digest: Asahi India Glass JV; Cipla to sell Croatian subsidiary

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief