India's Natco Pharma will acquire significant stakes in 135-year-old South African pharmaceutical giant Adcock Ingram.

The R 4.2-billion deal will see Adcock Ingram becoming a privately-held entity co-owned by Natco and Bidvest, which will remain the majority shareholder in the group.

A meeting of shareholders of Adcock Ingram approved Natco's proposal to acquire all the ordinary shares in the company.

Natco made a firm offer in July this year, the company announced in a statement on the Johannesburg Securities Exchange (JSE) on Friday.

Natco's offer in July resulted into a 20 per cent jump in Adcock Ingram's share price.

Natco Pharma South Africa will acquire all the ordinary shares in Adcock Ingram other than those not already held by Natco, those currently owned by Bidvest and trea

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