Sequent Scientific acquired residual 30% stake in Evance and Evanvet

12 Jan 2022 , 04:11 PM

Sequent Scientific through its wholly-owned subsidiary Alivira Saude Animal Brasil Participacoes Ltda (Alivira Brazil) currently holds 70% in Evance and Evanvet. On Wednesday, it has announced that the company will be acquiring a residual stake of 30% to make Evance & Evanet its wholly-owned subsidiaries.

The combined business of Evance and Evanvet ranks amongst the Top 10 veterinary companies in Brazil. As per the combined financials, the sales stood at Rs 1,275 million with an EBIDTA of Rs 209 million and PAT of Rs 114 million.

After the acquisition will be completed, the companies will become wholly-owned subsidiaries of Alivira Brazil, and consequently of Sequent Scientific Ltd.

Sequent Scientific Ltd ended at Rs184 up by Rs20.8 or 12.75% from its previous closing of Rs163.20 on the BSE.  The scrip opened at Rs163.30 and touched a high and low of Rs184.90 and Rs163.30 respectively.