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| Exchange Disseminated Time | Alpa Laboratories Ltd has informed BSE that subsequent to the Shareholders approval dated April 04, 2014, the Company has sold its Unit-II ("Undertaking”) situated at Sector III, Pithampur, Dhar (M.P.) as a going concern on a slump sale basis to Ipca Laboratories Limited (“Buyer”). The Company has received a consideration of Rs. 64,00,00,000 (Rs. Sixty Four Crore Only) towards the Business Transfer Agreement (“BTA”) as a going concern on a slump sale basis and a fee of Rs. 10,00,000 (Rs. Ten Lac Only) excluding taxes towards the Non Compete Agreement (“NCA”) from the Buyer. Both the BTA & the NCA have been executed on October 01, 2014 and the Undertaking has been duly transferred to the Buyer.
The sale of the facility will enable the Company in focusing on the growth of its well established business of Unit-I. |
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