Zydus Cadila buys out JV stake in Sarabhai Zydus Animal Health Ltd

Cadila Healthcare Ltd has announced that the Company has entered into a share purchase agreement with Ambalal Sarabhai Enterprises to acquire the remaining 50% holding in the joint venture Company, Sarabhai Zydus Animal Health Ltd., which will make it a 100% subsidiary Company of the group.

Sarabhai Zydus Animal Health Ltd., formed in the year 2000, is amongst the leading animal healthcare Companies in India. The Company markets a wide range of therapies and has a strong presence in the livestock, poultry and companion animal business. With 250 employees, the Company has a countrywide marketing network. The Company also has alliances with Abic, a Teva group Company and Lillydale of U.K. Sarabhai Zydus Animal Health Ltd., posted a turnover of Rs 88.87 crores in 2006-07.

The stock was trading at Rs.326.25, up by Rs.4.65 or 1.45%. The stock hit an intraday high of Rs.329.40 and low of Rs.320. The total traded quantity was 2777 compared to 2 week average of 7228.

Source : Equity Bulls

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