M&A

M&A

Nestle India sells nutraceuticals biz to JV with Dr Reddy’s for Rs.219-Cr

Bizz Buzz   BSE Announcement  

Nestle India Ltd has transferred its medical nutrition and nutraceuticals business to its joint venture with fellow publicly listed Dr Reddy’s Laboratories Ltd - Dr Reddy’s and Nestle Health Science Ltd (previously Dr Reddy’s Nutraceuticals Ltd) - for INR 218.9 crore.In addition, Nestle India has invested INR 705.55 crore in the joint venture by purchasing 70.55 crore equity shares at INR 10 each through a rights issue. Following this investment, Nestle India will hold a 49% stake in the joint venture, while Dr Reddy’s Laboratories will retain a 51% stake.