Genpharmasec acquires 70% stake in Derren Healthcare
The acquisition is done at a purchase consideration of Rs 34.15 crore
Genpharmasec has acquired 70% stake in Derren Healthcare (Target Company). Pursuant to completion of acquisition of shares of the Target Company, the Target Company has become a subsidiary of the Company as per the Regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time.
Objects of acquisition are to expand the activities of Genpharmasec and to make a foray in manufacturing of formulations. The acquisition is done at a purchase consideration of Rs 34.15 crore.
Genpharmasec is an India-based company, which is engaged in pharmaceutical activities and trading in equity shares.
