 "Animal health business")
The Mumbai-based pharmaceutical major Cipla Ltd will sell its animal health business in South Africa and Sub-Saharan Africa to Ascendis Health Ltd for Rand 375 million (about Rs 192 crores). For this, Cipla’s wholly-owned subsidiary Inyanga Trading 386 Proprietary Ltd has entered into agreements with the group companies of Ascendis Health Ltd.
“Under the agreements, Cipla will divest its 100 percent stake in Cipla Agrimed Proprietary Ltd, South Africa, and Cipla Vet Proprietary Ltd, South Africa. The total consideration of transaction would be Rand 375 million with potential revision linked to FY2017 performance along with customary adjustment (within the price band
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