 "Piramal Enterprises sells DRG business to Clarivate Analytics for $950 mn")
Piramal Enterprises on Friday said it has signed an agreement for the sale of its Decision Resources Group (DRG) business to US-based Clarivate Analytics for $950 million (over Rs 6,745 crore).
This divestment is expected to be completed by end of February 2020, Piramal Enterprises (PEL) said in a statement.
PEL DRG Dutch HoldCo BV, a 100 per cent subsidiary of the company, has signed a definitive agreement for the sale of DRG to Clarivate Analytics plc for a consideration of $950 million, it said.
This includes $900 million on closing and $50 million to be received at the end of 12 months from the date of closing, it added.
Shares of Piramal Enterprises were trading at Rs 1,632 per scrip on BSE, up 5.50 per cent from their previous close.
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