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The Japanese company is selling its 8.9 percent
stake in Sun Pharma, India's largest drugmaker by sales, via
block deals on the Indian exchanges, said the person, who
declined to be named as he was not authorized to speak to the
media.
Mumbai-headquartered Sun Pharma agreed to buy Indian rival
Ranbaxy Laboratories Ltd <RANB.NS> for $3.2 billion in April
2014 from Daiichi Sankyo. As part of the deal, Daiichi Sankyo
got 8.9 percent stake in Sun Pharma.
Daiichi Sankyo said on Monday in an exchange filing that the
company's board had approved to sell all or part of its stake in
Sun Pharma. The existing business partnership with Sun Pharma
will remain unchanged after the deal, it said.
(Reporting by Abhishek Vishnoi; Editing by Sunil Nair)
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