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.
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In Brief
Thursday, 13 May 2021 18:17 Private equity / VC
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.
For lump sum consideration of Rs 2921 croreZydus Animal Health and Investments (ZAHL) a wholly owned material subsidiary of Cadila Healthcare, has entered into a Business Transfer Agreement (BTA) and other Ancillary Agreements (Definitive Agreements) to sell and transfer its Animal Healthcare Established Markets Undertaking (Undertaking or Zydus AH) to Multiples Alternate Asset Management (Multiples) 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 (CPP Investments) and RARE Enterprises (RARE), has agreed to purchase the Undertaking through an SPV controlled by them, in the name of Zenex Animal Health India.
The News Scroll 12 May 2021
Last Updated at 11:32 am | Source: PTI
Cadila arm pacts for sale of Animal Healthcare Established Markets Undertaking Outlook May 12, 2021 11:32 IST Cadila arm pacts for sale of Animal Healthcare Established Markets Undertaking outlookindia.com 1970-01-01T05:30:00+0530
New Delhi, May 12 (PTI) Cadila Healthcare on Wednesday said its wholly-owned subsidiary Zydus Animal Health and Investment has entered into definitive agreements for sale of its Animal Healthcare Established Markets Undertaking to Zenex Animal Health India. Animal Healthcare Established Markets Undertaking has animal healthcare business in India and certain other countries. Zydus Animal Health and Investment has entered into a business transfer agreement and other ancillary agreements (together definitive agreements) for disposal of its Animal Healthcare Established Markets Undertaking to Zenex Animal Health India by way of a slump sale, w
Cadila Healthcare rose 2.60% to Rs 646.10 after the company s subsidiary announced plans to sell its India focused animal health business to Multiples Alternate Asset Management led consortium.
Zydus Animal Health and Investments (ZAHL), a wholly owned material subsidiary of Cadila Healthcare, has entered into a business transfer agreement (BTA) and other ancillary agreements to sell and transfer its Animal Healthcare Established Markets Undertaking (Zydus AH) to Multiples Alternate Asset Management led consortium.
The deal is to sell one of the two business undertakings of ZAHL, called Animal Healthcare Established Markets Undertaking on a slump sale basis as a going concern, for a lump sum consideration of Rs 2,921 crore on a cash free and debt free basis, subject to certain closing date adjustments and other conditions.