Cadila Healthcare to merge three subsidiaries with itself

Says the boards of ZAHL, LVL and ZPL have approved the amalgamation in their respective board meets

Ahmedabad-based drug maker Cadila Healthcare's board has approved the merger of Zydus Animal Health Ltd (ZAHL), Liva Healthcare Ltd (LHL) and Zydus Pharmaceuticals Ltd (ZPL) with itself.

In a notice to the Bombay Stock Exchange (BSE), the company said that the board of directors of ZAHL, LVL and ZPL have approved the amalgamation in their respective board meetings.

"In the terms of the scheme, ZAHL, LHL and ZPL will be amalgamated with Cadila Healthcare followed by the dissolution without winding up of the ZAHL, LHL and ZPL," the statement said.  The statement further added that upon the scheme being effective, in consideration of the transfer and vesting of the undertakings of ZAHL, LHL and ZPL (the transferor companies) in Cadila Healthcare.

"All the equity shares issued by the transferor companies and held by the company and its nominees shall stand cancelled and extinguished," it added.