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| Exchange Disseminated Time | With reference to the earlier announcement dated December 13, 2010 regarding decision taken to sell 49% shareholding in Chiron Behring Vaccines Private Limited (CBVPL), Aventis Pharma Ltd now has informed BSE that
the sale of the shareholding was completed on December 23, 2010, being the date of closing.
The Company received sale consideration of Rs. 1007.5 million (equivalent to US Dollars 22.399 million).
The Company's two nominees on the Board of CBVPL have also resigned with effect from the close of the Board Meeting of CBVPL held on the closing date.
The Company has entered into anew Services Agreement to provide certain utilities and services to the Ankleshwar plant of CBVPL for a period of three years from December 23, 2010.
All legal proceedings filed in connection with the disputes between the Company and Novartis Vaccines and Diagnostics Inc/ CBVPL have been unconditionally withdrawn by all parties. |
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