M&A
Pharma excipients maker Sigachi buys 80% stake in API-maker Trimax for Rs.100-Cr
Publicly listed, Hyderabad-based Sigachi Industries has acquired 80% stake in API (active pharmaceutical ingredient) manufacturer Trimax Bio Sciences which has a factory at Raichur, Karnataka. Sigachi will acquire 2.88 crore equity shares of INR 10 each constituting 80% of the paid-up equity share capital in Trimax for INR 100 crore. It would acquire the remaining 20% stake in the firm after 3 years for a sum of INR 25 crore or 8.5 times of EBITDA multiples, whichever is higher with purchasers' call option.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
