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Dai-ichi Karkaria announces conclusion of agreement with GVK Bio & Inogent

Capital Market 

Pares stake in Inogent

Dai-ichi Karkaria announced that pursuant to the Call Option under the Joint Venture and Shareholders Agreement among GVK Biosciences (GVK Bio), Dai-Ichi Karkaria (the Company) and Inogent Laboratories (Inogent), dated 14 October 2005, GVK Bio has acquired balance 9,87,500 equity shares (6.12% of voting powers) of Inogent from the Company on 11 July 2014, at a consideration aggregating to Rs. 8.97 crore.

Accordingly, the shareholding of the Company in Inogent after the acquisition will be NIL and the Agreement shall be treated as concluded.

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First Published: Mon, July 14 2014. 15:29 IST