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Strides Shasun’s board has given approval to a proposal for selling entire stake in Strides Chemicals, to Solara Active Pharma Sciences for Rs.131 crore.
Strides Chemicals is a subsidiary of Strides Shasun and is involved in developing and manufacturing of active pharmaceutical ingredients (APls).
In a regulatory filing the company said, “Under the proposed terms of the agreement Strides will divest 100% of the issued capital in Strides Chemicals to Solara for a cash consideration of Rs 1,310 million, as determined by independent valuers.”
Furthermore the company stated that, the transaction is subject to customary closing conditions including approval by the shareholders of both the companies.
