Zydus Animal Health and Investment to divest its stake held in Mylan

For a consideration of Rs 106 cr

Zydus Lifesciences announced that Zydus Animal Health and Investments, a wholly owned subsidiary (ZAHL) had acquired 65,06,500 equity shares of Re. 1 each fully paid-up, representing 6.5% of the total paid-up share capital (Sale Shares) of Mylab Discovery Solutions (Mylab) from Rising Sun Holding (RHSPL) at an agreed consideration of Rs. 106 crore vide a Share Purchase Agreement (SPA) executed by ZAHL, RHSPL and Mylab on 23 June 2023.

Now, pursuant to the terms and conditions of the SPA, ZAHL has exercised its Put Option right to sell the Sale Shares back to RHSPL and RHSPL has agreed to acquire the Sale Shares at the original consideration amount i.e. Rs. 106 crore.

 

The Board of Directors of ZAHL at their meeting held today i.e. 16 December 2024, approved the disinvestment of Sale Shares, as per the terms and conditions of the SPA. Post that, ZAHL, RSHPL and Mylab have executed the termination deed.

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