Sun Pharmaceutical Industries Ltd: Proposed Going Private transaction for Sun Pharma's US Subsidiary, Caraco Pharma

Sun Pharmaceutical Industries Ltd has informed BSE that in the process of completing the previously announced going private transaction for Caraco Pharmaceutical Laboratories Ltd (Caraco), a US subsidiary of Sun Pharmaceutical Industries Ltd (Sun Pharma), Sun Pharma, Sun Pharma Global (Sun Global, a wholly owned subsidiary of Sun Pharma) a newly-formed, wholly-owned subsidiary of Sun Pharma incorporated in Michigan entered into a merger agreement with Caraco on February 21, 2011. The above referred merger agreement provides that all shareholders of Caraco other than Sun Pharma and Sun Global will receive a cash payment of $5.25 per share upon the closing of the transaction which is subject to certain terms and conditions customary for transactions of this type, including receipt of approval by the holders of a majority of Caraco's outstanding common stock at a special meeting of stockholders.