In Feb this year, the company had announced that its board had approved the sale of its Indore SEZ plant to Mylan Laboratories
Unichem Laboratories today said it has completed the sale of its new formulation facility in Madhya Pradesh along with all its assets to Mylan laboratories for Rs 160.50 crore.
"Since all necessary approvals for completion of the transaction are received and the company has consequently received the consideration amount of Rs 160.50 crore, the sale has been completed," Unichem Laboratories said in a filing to the BSE.
In February this year, the company had announced that its board had approved the sale of its Indore SEZ plant to Mylan Laboratories.
The deal was subject to execution of a definitive agreements between the company and Mylan and also approval of shareholders through a postal ballot.
Shares of Unichem Laboratories were trading at Rs 171.45 per scrip on BSE in midday trade, up 2.88% from its previous close.
"Since all necessary approvals for completion of the transaction are received and the company has consequently received the consideration amount of Rs 160.50 crore, the sale has been completed," Unichem Laboratories said in a filing to the BSE.
In February this year, the company had announced that its board had approved the sale of its Indore SEZ plant to Mylan Laboratories.
The deal was subject to execution of a definitive agreements between the company and Mylan and also approval of shareholders through a postal ballot.
Shares of Unichem Laboratories were trading at Rs 171.45 per scrip on BSE in midday trade, up 2.88% from its previous close.
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