December 15, 2016 / 2:59 AM / 8 months ago

BRIEF-Cipla's Netherlands unit enters in JV with Ahran Tejarat Co

Dec 15 (Reuters) - Cipla Ltd :

* Cipla Ltd says unit in Netherlands enters in JV with Ahran Tejarat Co

* Total expected investment of Cipla Netherlands in cash in JV co estimated to be up to euro 16.88 million

* Cipla Netherlands will initially buy 75 percent stake in Issat from JV partner for euro 1.5 million; balance to be infused by unit to Issat as equity

* Cipla Netherlands will hold 75 percent stake in JV co in Iran while JV partner will hold remaining 25 percent stake

* JV proposes to undertake manufacturing and marketing of pharma products in Iran

* Acquisition expected to be completed by March 2017 Source text: (bit.ly/2hyhQbM) Further company coverage:

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