|
| Exchange Disseminated Time | With reference to the earlier announcement dated August 24, 2011, wherein the Company had stated that the Company had entered into a definitive agreement with Universal Medicare Private Limited to acquire its business of marketing and distribution of branded nutraceutical formulations in India.
The transaction was then expected to close in the fourth quarter of 2011, subject to certain conditions precedent.
Aventis Pharma Ltd has now informed BSE that the transaction was closed on November 03, 2011 on fulfillment of all the conditions precedent.
On closing, the Company has paid a sum of Rs. 5671 million as the lump sum consideration for the purpose of the said business as going concern. |
|
|