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New Delhi/ Mumbai (Maharashtra) [India], May14 (NewsVoir): Cyril Amarchand Mangaldas advised Zydus Cadila on sale of its India-focussed animal healthcare business to Zenex Animal Health India Private Limited (Zenex), which is a special purpose vehicle set up by Multiples led consortium of investors, for INR 2921 crores (~US USD 398 million) on a cash-free debt-free basis.
As part of the Transaction, Cadila Healthcare Limited s animal healthcare business subsidiary Zydus Animal Health and Investments Limited has entered into a Business Transfer Agreement, dated May 12, 2021, with Zenex for sale of its Animal Healthcare Established Markets Undertaking to Zenex, as a going concern, on slum sale basis.
Zydus to sell animal healthcare business to Zenex for ₹2,921 crore
May 12, 2021
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Inks agreement to sell businesses in India and some other countries by way of a slump sale
Cadila Healthcare Limited (Zydus Cadila) on Wednesday said its wholly-owned Zydus Animal Health and Investment Limited (ZAHL) has entered into a Business Transfer Agreement with Zenex Animal Health India Private Limited to sell itsanimal healthcare business.
Zydus will sell the Animal Healthcare Established Markets Undertaking - the animal healthcare business in India and certain other countries - by way of a slump sale- for an estimated consideration amount of ₹2,921 crore, subject to certain closing date adjustments in terms of the Definitive Agreements, the company said in a regulatory filing.