Merck to divest unit for Rs 99.20cr

The board of directors of Merck, which met today, approved a proposal to sell the company's life science & analytics business (excluding bulk drugs) to Merck Specialities, a 100% subsidiary of Germany-based Merck KGaA, for Rs 99.20 crore.

According to a release issued by Merck to the BSE today, the deal is inclusive of the value of intangibles, fixed and net current assets, and the consideration would be suitably adjusted to represent any change in asset/net current value on the date of transaction.