FDC Limited (BSE:531599) agreed to acquire remaining 7% stake in Fair Deal Corporation Pharmaceutical SA (Pty) Ltd. from other existing shareholders on July 13, 2023. The consideration for this transaction will be paid in cash with settlement of their existing outstanding loan with interest. Post completion of this transaction Fair Deal Corporation Pharmaceutical SA (Pty) Ltd will become the wholly owned subsidiary of FDC Limited.

Fair Deal Corporation Pharmaceutical SA (Pty) Ltd generated the revenue of ZAR 11.9 million for the year ended March 31, 2023. The transaction has been approved by the Audit Committee and Board of Directors of FDC Limited. The deal is subject to necessary approvals and regulatory compliances.