Differences within the Hamied family, Cipla Limited's (NSEI:CIPLA) promoters, over the pricing of the deal and the decision of patriarch Yusuf K. Hamied to sell the drugmaker threaten to derail the $7 billion sale plan, according to five people aware of the discussions. Any sale may take longer than anticipated since a consensus is yet to emerge within the Hamied family, the people said on condition of anonymity. Some family members have questioned the deal's pricing of around INR 1,200 per share and the family's decision to exit the eight-decade-old business.
"The third-generation of the Cipla promoter group family is not keen to exit at this stage unless a substantial premium is offered to their shareholding," said the second person. According to the first person, Sophie Ahmed (Yusuf Hamied's sister) and Samina Hamied (Yusuf's younger brother M.K. Hamied's daughter), who together own 7.93% of Cipla, are not in favour of the deal. Samina Hamied declined to comment on the matter.
Emails sent to Hamied family members remained unanswered. According to several news reports, Gujarat-based Torrent Pharmaceuticals Limited (BSE:500420) has evinced interest in buying the promoter stake and taking over Cipla, valuing the company at over INR 1 trillion.