 "Sequent Scientific gains as arm to buy Turkey's Topkim")
Sequent Scientific is trading higher by 5% at Rs 949 on the BSE after the pharmaceutical company announced that its subsidiary Alivira Animal Healthcare will acquire Turkish firm Topkim.
The acquisition will be made through Provet Veterinary Products, Turkey, a subsidiary of Alivira. The transaction has been valued at an enterprise valuation of Turkish Lira (TL) 20.7 million (about $7 million), Sequent Scientific said in a filing.
Topkim, one of the oldest and reputable manufacturer of Turkey, has close to 50 years of business presence with over 67 registered products mainly comprising of Ectoparasiticides, Endectocides, and injectable antibiotics, it added.
The stock hit a high of Rs 957 and has seen around 25,000 shares changed hands on the BSE till 11:55 AM.
The acquisition will be made through Provet Veterinary Products, Turkey, a subsidiary of Alivira. The transaction has been valued at an enterprise valuation of Turkish Lira (TL) 20.7 million (about $7 million), Sequent Scientific said in a filing.
Topkim, one of the oldest and reputable manufacturer of Turkey, has close to 50 years of business presence with over 67 registered products mainly comprising of Ectoparasiticides, Endectocides, and injectable antibiotics, it added.
The stock hit a high of Rs 957 and has seen around 25,000 shares changed hands on the BSE till 11:55 AM.
