Press Release28 Jan 2024, 05:45 pm
Jubilant Pharmova to Sell Stake in Sofie Biosciences for $139.43 Million
AI Summary
Jubilant Pharmova Limited, a pharmaceutical company, has announced that its wholly owned subsidiary will sell its 25.8% stake in Sofie Biosciences Inc. for aggregate proceeds of $139.43 million, subject to customary conditions and regulatory approvals. The sale is expected to close by June 30, 2024, and the proceeds will be used to reduce leverage and for capex and other corporate purposes.,
Key Highlights
- Jubilant Pharmova to sell stake in Sofie Biosciences for $139.43 million
- Sale expected to close by June 30, 2024
- Proceeds to be used to reduce leverage and for capex and other corporate purposes