![]() ![]() Post the transaction closing, one of the three promoters of Tineta, Vipin Chandan will work with SeQuent team to transition and support the business integration, and SeQuent will execute a separate transition agreement for such services through Tineta. Tineta's revenues stood at INR 81 Crores in FY22, delivering double digit y-o-y growth. The business has also established a premium "Vitum" brand in the nutritional segment with strong customer loyalty and a robust commercial engine. Tineta, founded by Vipin Chandan, Pradeep Verma and Shreekant Inamdar, has a well-established presence of more than 25 years in the Indian market, specializing in the livestock segment. The transaction is subject to customary closing conditions and is expected to close in Q4 FY23. ![]() The acquisition is for an enterprise value of INR 218 Crores, which will be paid as cash consideration of INR 153 Crores and preferential allotment of SeQuent's equity shares of INR 65 Crores. India is a strategic market for SeQuent, and this acquisition will give a significant fillip towards rapid expansion of India formulations business, which stands to gain from a stronger foothold in the livestock segment. SeQuent Scientific Limited (SeQuent), India's leading animal health company with a strong presence in veterinary formulations and APIs, has signed a definitive agreement on 07 November 2022 to acquire 100% stake in Tineta Pharma Private Limited (Tineta), a company incorporated in India.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |