Zydus Animal Health and Investments Limited (ZAHL) a wholly-owned material subsidiary of Cadila Healthcare Limited, has entered into a Business Transfer Agreement and other Ancillary Agreements to sell and transfer its Animal Healthcare Established Markets Undertaking to Multiples Alternate Asset Management led consortium for Rs 2,921 crore.

The consortium, including Canada Pension Plan Investment Board and RARE Enterprises, has agreed to purchase the undertaking through an special purpose vehicle (SPV) controlled by them, in the name of Zenex Animal Health India, Cadila Healthcare said. Animal Healthcare Established Markets Undertaking (Zydus AH) is focused on India and certain other countries, it added.

The deal is to sell Animal Healthcare Established Markets Undertaking on a slump sale basis as a going concern, for a lump sum consideration of Rs 2,921 crore on a cash-free and debt-free basis, subject to certain closing date adjustments and other conditions, Cadila Healthcare said. Zydus AH employs around 700 people and has one manufacturing facility in Haridwar, it added.

Shares of Cadila Healthcare Ltd was last settled in NSE at Rs.649.85 as compared to the previous close of Rs. 629.85, up by 3.18 percent.

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