Multiples Alternate Asset Mgt-led group to buy Cadila's animal health biz

The deal is to sell one of Cadila's two businesses on a slump sale basis as a going concern, for a lump sum of Rs 2,921 cr on cash-free and debt-free basis

Cadila Healthcare Ltd (Zydus Cadila)'s wholly-owned material subsidiary Zydus Animal Health and Investments Limited (ZAHL) is set to sell its animal healthcare business to a consortium led by Multiples Alternate Asset Management for nearly Rs 3,000 crore.

Zydus Cadila on Wednesday announced that ZAHL has entered into a business transfer agreement (BTA) and other ancillary agreements to sell and transfer Zydus AH, its animal healthcare established markets undertaking to the Multiples-led consortium.

The deal is to sell one of the two business undertakings of ZAHL on a slump sale basis as a going concern, for a lump sum consideration of Rs 2,921