Vivimed Labs to sell wholly owned arm to Vivimed Specialty Chemicals UK

The transaction is supported by the foreign institutional investor on behalf of the buyer, the company added.

Sep 09, 2019 03:09 IST India Infoline News Service

Vivimed labs
Vivimed Labs has entered, definitive agreements for transfer and sale of its wholly-owned subsidiary to Vivimed Specialty Chemicals

The company has entered definitive agreements for transfer and sale of its wholly-owned subsidiary viz. Vivimed Labs Europe Ltd to Vivimed Specialty Chemicals UK Limited (buyer) which forms part of the Speciality Chemical business of Vivimed Labs Ltd, under the shareholder’s resolutions passed through postal ballot notice on August 23, 2018.

The transaction is supported by the foreign institutional investor on behalf of the buyer, the company added.

On Friday, the share price of Vivimed Labs Ltd ended at Rs15.05, up by Rs0.3 or 2.03% from its previous closing of Rs14.75 on the BSE.

Related Story