Nifty, Sensex under remains under pressure from global factors – Wednesday closing report
Moneylife Digital Team
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We had mentioned in Tuesday’s closing report that Nifty, Sensex may move sideways. On Wednesday, the indices opened higher but ended in the red with minor losses. On the NSE, there were 887 advances, 1,088 declines and 61 unchanged.
The trends of the major indices in the course of Wednesday’s trading are given in the table below:
Cadila Healthcare has informed the exchanges that a consortium of investors Multiples Alternate Asset Management, Canada Pension Plan Investment Board (CPPIB) and Rakesh Jhunjhunwala-backed Rare Enterprises will buy its animal healthcare business for Rs 2,921 crore.
Zydus Cadila to sell one animal health business for Rs 2,921 crore ANI | Updated: May 12, 2021 12:27 IST
Ahmedabad (Gujarat) [India], May 12 (ANI): Pharmaceutical major Zydus Cadila said on Wednesday it has signed agreements to sell one of its animal health business companies to Multiples Alternate Asset Management led consortium for Rs 2,921 crore.
The consortium includes Canada Pension Plan Investment Board and RARE Enterprises. The slump sale transaction is expected to be complete within 90 days.
Zydus Animal Health and Investments Ltd (ZAHL) has leadership position across a wide spectrum of therapeutic and nutritional products for livestock and poultry animal segments. It employs 700 people and has one manufacturing facility in Haridwar.
Cadila Healthcare’s (Zydus Cadila’s) wholly-owned material subsidiary Zydus Animal Health and Investments (ZAHL) is set to sell its animal healthcare business to a consortium led by Multiples Alternate Asset Management for nearly Rs 3,000 crore.
Zydus Cadila on Wednesday announced ZAHL has entered into a business transfer agreement and other ancillary pacts to sell and transfer its animal healthcare unit to the Multiples-led consortium. The deal is to sell one of the two business undertakings of ZAHL on a slump-sale basis as a going concern, for Rs 2,921 crore on a cash free and debt free basis, subject to certain closing date adjustments and other conditions.
Zydus Cadila to sell its India focused animal health biz for Rs 2,921 cr to Multiples, RARE
By IANS |
Published on
Wed, May 12 2021 12:48 IST |
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Rupee. (File Photo: IANS). Image Source: IANS News
New Delhi, May 12 : Zydus Animal Health and Investments Limited (ZAHL) a wholly owned material subsidiary of Cadila Healthcare Limited, has entered into a Business Transfer Agreement (BTA) and other ancillary agreements to sell and transfer its Animal Healthcare Established Markets Undertaking to Multiples Alternate Asset Management led consortium.
Zydus AH is the animal health business of ZAHL focused on India and certain other countries. The consortium, including Canada Pension Plan Investment Board and RARE Enterprises has agreed to purchase the undertaking through an SPV controlled by them, in the name of Zenex Animal Health India Private Limited.