Zydus AH is the animal health business of ZAHL focused on India and certain other countries. The consortium, including Canada Pension Plan Investment Board and RARE Enterprises has agreed to purchase the undertaking through an SPV controlled by them, in the name of Zenex Animal Health India Private Limited.
The deal is to sell one of the two business undertakings of ZAHL, called 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.
Zydus AH is the second largest and one of the fastest growing animal health businesses in India. The business enjoys leadership position across a wide spectrum of therapeutic and nutritional products for livestock and poultry animal segments. It employs approximately 700 people and has one manufacturing facility in Haridwar.
Pankaj Patel, Chairman, Cadila Healthcare Ltd, said, “Over the last 3 decades Zydus AH has grown to become a pioneer and market leader in the Indian animal health industry.”