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| Exchange Disseminated Time | Sanofi India Ltd has informed BSE that the Board of Directors of the Company has approved of the Company selling its commercial premises, being five floors and corresponding car-parking spaces in the building known as Hoechst House situated at Nariman Point, Mumbai to Bright Star Investments Private Limited and its Group companies for a total consideration of Rs. 1342.56 million.
Each floor admeasures 7442 sq. feet carpet area.
All the floors have presently been given out on leave and license basis by the Company to various third parties.
The transaction is expected to be completed in the quarter ending December 31, 2014.
The purchasers are not related parties as specified in the Listing Agreement. |
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