Business Update5 Feb 2024, 12:42 pm
Aurobindo Pharma to Sell Eugia US Manufacturing Assets
AI Summary
Aurobindo Pharma Limited has intimated the disposal of its business assets of Eugia US Manufacturing LLC, a wholly owned step-down subsidiary, to Empower Clinic Services New Jersey, LLC for USD 52 million plus USD 58 million in lease payments over 20 years. The transaction is expected to close within 90 days subject to fulfillment of closing conditions.,
Key Highlights
- Disposal of Eugia US Manufacturing assets
- USD 52 million consideration
- 20-year lease term
- Material subsidiary not contributing to revenue