Ranbaxy Laboratories Ltd will acquire RPG Aventis SA along with its fully-owned subsidiary, OPIH SARL, in France for an undisclosed sum.

The companies have signed an agreement to this effect, but the sale was subject to the legal process of consultation with employee representatives, Ranbaxy informed the Bombay Stock Exchange on Saturday.

"France is strategic to our European expansion plans. The acquisition of RPG Aventis will be a very important move for Ranbaxy as it would place us among the top generic companies in the French market," Ranbaxy chief executive officer and managing director D S Brar said.

The transaction is expected to be completed in the first quarter of 2004, subject to the requisite approvals, the pharma major said.