Drug maker Vivimed labs's board is considering to divest or transfer some of its speciality chemicals business for a consideration of not less than Rs380 crore.
“In order to optimise the capital structure of the company and prepare for the next leg of growth across business units. It is proposed to divest or otherwise transfer some of undertakings, assets, projects, brands, products relating to certain identified segments of the company's speciality chemicals business,” Vivimed labs said in a BSE filing.
Such business or undertaking of the company is proposed to be divested or transferred for a consideration not below of Rs380 crore, it added.
The company further said that the plan of divestment or transfer would be done to a strategic investor or special purpose vehicle (SPV) company or any other third parties on a slump sale basis, the Vivimed labs official statement has said on Saturday.