M&A

M&A

Hester Biosciences to acquire 50% stake in Tanzania's animal health products co Thrishool Exim

BSE Disclosure  

Publicly listed Hester Biosciences Ltd (Hester India) is to acquire 486 equity shares of Dar es Salaam, Tanzania-based Thrishool Exim Ltd (TEL) from the existing promoters and subscribe to 1,188 equity shares of TEL for USD 2,250,000. Thereby, it would acquire and subscribe a total of 1,674 equity shares representing 50% of total issued and paid-up equity share capital of TEL. TEL is a supplier and distributor of animal health and nutrition products. It had reported a turnover of 7,097 million Tanzanian shillings for the year ended December 31, 2020.