Gets Board approval for signing of share purchase agreement
Bal Pharma has acquired 100% shareholding, management control and ownership of Golden Drugs, an Udaipur, Rajasthan based private limited Company, which is in the business of manufacturing of API's/ Bulk Drugs.The Board of Directors of the Company at their meeting held on 22 March 2018 has approved the signing of the share purchase agreement (SPA) with the Directors and shareholders of Golden Drugs, with a purchase consideration of Rs.20.66/- per equity shares of Rs.10 each of the said Company.
With this acquisition, Golden Drugs becomes a wholly owned subsidiary of Bal Pharma.
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