"Alivira Animal Health Limited has signed a definitive agreement to acquire controlling interest (70 per cent stake) in Interchange Industria e Comercio de Productos Veterinarios SA Brazil (Interchange Brazil)," SeQuent Scientific said in a BSE filing.
"A meeting of board of directors will be held on March 11 to consider and approve merger of Lyka Healthcare, a wholly owned subsidiary and Lyka Exports, a subsidiary with Lyka Labs," says the Mumbai-based pharma company in its filing.
Alivira Animal Health, a subsidiary of SeQuent Scientific and Lyka Exports, a subsidiary of Lyka Labs, have entered into a definitive agreement under which Alivira will acquire the Animal Health business of Lyka on a going concern basis.
Manish Gupta, CEO, Sequent Scientifc said the acquisition will not put any debt burden on the books.