Sanofi India completes slump sale of manufacturing facility at Ankleshwar

Sanofi India has completed the slump sale and transfer of the manufacturing facility at Ankleshwar, Gujarat to Zentiva. After the initial working capital adjustment on the closing date, the total consideration for the transaction has been calculated at Rs. 320.68 crore. The Company has received the initial consideration of Rs. 293.34 crore on the closing date. This is subject to a customary post-closing working capital adjustment in accordance with the terms of the Business Transfer Agreement, and the balance consideration of Rs. 27.34 crore will be received within 10 business days of full transfer of products as specified in the Business Transfer Agreement. It is anticipated that the full transfer of products will be completed by September 2021.

Powered by Capital Market - Live News