Cadila Healthcare to sell animal healthcare business to become a focused entity

Cadila Healthcare Ltd. has entered into an agreement to sell its animal healthcare business to Zenex Animal Health India through a slump sale for a consideration of Rs 29 billion.

Zenex is an special purpose vehicle managed by Rare Enterprises, Multiples Alternate AMC and Canada Pension Plan Investment Board (CPPIB).

The transaction is expected to be earnings per share neutral in the near term and is expected to be completed in the next three months, subject to shareholders’ approval. BloombergQuint