M&A

M&A

Nectar to sell API, formulations & menthol biz to Ceph Lifesciences for Rs.1,290-Cr

Press Release   Economic Times  

Chandigarh-headquartered publicly listed Nectar Lifesciences Ltd will sell its active pharmaceutical ingredients and formulation business along with menthol business assets to Hyderabad-based Ceph Lifesciences Pvt Ltd, for INR 1,290 crore.While the APIs and formulations segment will be sold to Ceph for INR 1,270 crore on a slump sale basis, its menthol business assets will be sold to Ceph for INR 20 crore.The proceeds from the sale will be used to repay debt, invest in new and emerging business areas and reward shareholders.