Drug firm Cadila Healthcare on Thursday said it has signed a definitive pact to sell its 49 per cent stake in Windlas Healthcare to Windlas Biotech for Rs 99.44 crore.
The company's board has approved and signed the agreement for sale of 2,31,33,717 equity shares of Rs 10 each fully paid-up capital, representing 49 per cent of the total paid-up share capital of Windlas Healthcare Pvt Ltd (WHPL), to Windlas Biotech Pvt Ltd, Cadila Healthcare said in a filing to the BSE.
"Consequent to above divestment and upon completion of the transaction in relation to the sale of the said equity shares, the company shall cease to hold any equity shares in WHPL, it added.
A total of Rs 99,44,07,423 will be received as consideration for the sale, which is expected to be completed within 10 business days, Cadila Healthcare said.
Shares of Cadila Healtcare were trading at Rs325.95per scrip on the BSE, down 0.18 per cent from its previous close.
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