Zydus Cadila, listed as Cadila Healthcare, has completed the sale and disposal of animal healthcare established markets undertaking of Zydus Animal Health and Investments Limited, a wholly-owned subsidiary company of the Company to Zenex Animal Health India Private Limited.
Earlier, in May, the consortium, including Canada Pension Plan Investment Board (“CPP Investments”) and RARE Enterprises (“RARE”), has agreed to purchase Zydus AH through an SPV controlled by them, in the name of Zenex Animal Health India.
The deal was for a consideration of Rs2921cr on a cash-free and debt-free basis.
Zydus AH is the second-largest and one of the fastest-growing animal health businesses in India. The business enjoys a leadership position across a wide spectrum of therapeutic and nutritional products for livestock and poultry animal segments. It employs approximately 700 people and has one manufacturing facility in Haridwar.
The transfer involves of Immovable Assets, Movable Assets, Inventory, Brands and Intangible Assets, Contracts, Licenses and Permissions, Business Records, Employees along with Employee Benefit Funds, Insurance Policies, Other Assets and Assumed Liabilities.
On Sensex, Cadila closed at Rs640.65 per piece down by 0.5%.
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( With inputs from indiainfoline)