Joint Venture30 Apr 2025, 10:28 am
Lupin Ltd updates on slump sale of API R&D Division and Over-the-Counter Consumer Healthcare Business
AI Summary
Lupin Ltd has updated the Exchanges regarding the slump sale of its API R&D Division to Lupin Manufacturing Solutions Limited (LMSL) and the Over-the-Counter Consumer Healthcare Business to LUPINLIFE Consumer Healthcare Limited (LCHL). The Business Transfer Agreement (BTA) for the API R&D Division is expected to be executed by June 30, 2025, and the slump sale is expected to be completed by the same date. The BTA for the Over-the-Counter Consumer Healthcare Business is also expected to be executed by June 30, 2025. These dates are a modification from the earlier indicated date of April 30, 2025.
Key Highlights
- Lupin Ltd to transfer API R&D Division to Lupin Manufacturing Solutions Limited (LMSL) on a slump sale basis.
- Lupin Ltd to transfer Over-the-Counter Consumer Healthcare Business to LUPINLIFE Consumer Healthcare Limited (LCHL), a wholly owned subsidiary.
- Business Transfer Agreement (BTA) for both transactions expected to be executed by June 30, 2025.
- Slump sale completion date for both transactions also set for June 30, 2025.
- Earlier indicated date of April 30, 2025, for BTA execution and slump sale completion has been modified.