The Board of Directors of Cadila Healthcare at their meeting held today have now approved the amalgamation of Zydus Technologies Limited (“ZTL”), Alidac Pharmaceuticals Limited (“APL”), Liva Pharmaceuticals Limited (”LPL”), and Dialforhealth India Limited (”DHIL”) with Cadila Healthcare Limited (“CHL”).
ZTL, APL, LPL and DHIL are the wholly owned subsidiaries of the Company.
CHL, ZTL, APL and LPL and are engaged in manufacturing and marketing of pharmaceutical products.
The amalgamation is being done for consolidation of pharmaceutical business and merger simplification of corporate structure to avoid duplication of effort and to reduce the overheads and costs of managing separate entities.
The amalgamation is subject to the necessary approvals/sanctions, from the National Company Law Tribunal, Bench at Ahmedabad or such other competent authority and shareholders and creditors of CHL, ZTL, APL, LPL and DHIL, if applicable.
Cadila Healthcare Ltd is currently trading at Rs253.60 down by Rs0.8 or 0.31% from its previous closing of Rs254.40 on the BSE.