Jubilant Pharmova (NSE:JUBLPHARMA, BOM:530019) said its board has approved the transfer of its Active Pharmaceutical Ingredients (API) business to its wholly owned subsidiary Jubilant Biosys on a slump sale basis, according to a Thursday filing.
The transaction is expected to be completed by Sept. 1, subject to approvals from lenders and shareholders.
The consideration, yet to be finalized, will primarily be settled through share issuance under the terms of the business transfer agreement, the company said in the filing.
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