Hyphens Pharma (SGX:1J5) completed the proposed acquisition of tranche 2 sale shares of Ardence Pharma for a total consideration of 10.9 million ringgit, according to a filing with the Singapore Exchange on Friday.
Following the completion of the tranche 2, the company now has an 82% stake in Ardence, a Malaysia-based boutique pharmaceutical company specializing in aesthetic medicine.
In an earlier filing, the company, through its unit Hyphens Pharma, agreed to acquire the remaining 58% stake in Ardence Pharma in three tranches.
Under first tranche, the pharmaceutical company acquired 23% of Ardence Pharma for 6.4 million Malaysian ringgit.
In the second and third tranches, Hyphens Pharma will acquire 17% and 18% of Ardence Pharma, respectively, at an amount mutually agreed between the parties involved.
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