Granules India announced its intention to divest its entire equity
shareholding in Granules OmniChem (GOC) by selling its stake to its joint venture partner. GOC is an equal joint venture between Granules lndia and S.A. Ajinomoto Omnichem N.V. (now doing business as Ajinomoto BioPharma Services), an integrated contract development and manufacturing organization. The manufacturing facility of this joint venture entity is located in Visakhapatnam, India. Conclusion of this transaction is subject to fulfilment of certain closing conditions as well as customary government approvals.
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