Cadila arm to sell animal health business for Rs 2,921 crore

New Delhi, May 12

Cadila Healthcare on Wednesday said its wholly-owned subsidiary Zydus Animal Health and Investment has entered into definitive pacts for sale of its animal healthcare established markets undertaking to Multiples Alternate Asset Management-led consortium for Rs 2,921 crore.

The consortium, including Canada Pension Plan Investment Board and RARE Enterprises, has agreed to purchase the undertaking through an special purpose vehicle controlled by them, in the name of Zenex Animal Health India, Cadila Healthcare said in a statement.

Animal Healthcare Established Markets Undertaking (Zydus AH) is focused on India and certain other countries, it added.Zydus AH employs around 700 people and has one manufacturing facility in Haridwar, it added. — PTI