Cadila Arm Completes Sale Of Animal Health Business For Rs 2,921 Cr

Cadila Healthcare on Thursday said its wholly-owned subsidiary Zydus Animal Health and Investment has completed sale of its animal healthcare established markets undertaking to Multiples Alternate Asset Management-led consortium for Rs 2,921 crore.

"The transaction of sale and disposal is completed/closed today i.e. July 14, 2021," Cadila Healthcare said in a regulatory filing.

In May this year, Zydus Animal Health and Investment has entered into definitive pacts for sale of its animal healthcare established markets undertaking to Multiples Alternate Asset Management-led consortium for Rs 2,921 crore.

The consortium, including Canada Pension Plan Investment Board and RARE Enterprises, agreed to purchase the undertaking through a special purpose vehicle (SPV) controlled by them, in the name of Zenex Animal Health India, Cadila Healthcare had said earlier.

Animal Healthcare Established Markets Undertaking (Zydus AH) is focused on India and certain other countries.

(PTI)