For sale of its 'Actibile' brand
Albert David announced that Albert David (ADL) has entered into Agreements dated 28 March 2016 with Zydus Healthcare (a wholly owned subsidiary of Cadila Healthcare) for the sale of ADL's brand 'Actibile' with a free and marketable title along with all business information, know how and the trademarks associated with the brand for the following territories: (i) the Union of India; (ii) Nepal, (iii) South America (excluding Peru and Colombia), (iv) The United States of America; (v) Japan, (vi) South Africa; (vii) the European Union; and (viii) East Europe, for a lump sum consideration of Rs. 55.00 crore.The transaction was a part of strategic initiative by Albert David and the proceeds front the sale will be invested for growth and expansion of the branded formulation business of the Company.
The said asset purchase transaction with Zydus Healthcare is not a related party transaction.
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