New Delhi: Piramal Enterprises on Monday mentioned it has obtained $900 million (round Rs 6,500 crore) on completion of divestment of stake in its healthcare insights and analytics enterprise to US-headquartered Clarivate Analytics. The corporate in January this yr introduced an settlement on the market of its Choice Sources Group (DRG) enterprise to Clarivate Analytics for $950 million, and had mentioned it might use the cash to cut back debt and to discover natural and inorganic progress alternatives.PEL DRG Dutch HoldCo BV, a 100 per cent subsidiary of Piramal Enterprises Ltd (PEL) and the holding firm for DRG, had signed the definitive settlement on the market of DRG enterprise.
“… the transaction has closed on February 28, 2020, and the corporate has obtained the consideration quantity of $900 million pursuant to the closing. The remaining $50 million can be obtained on the finish of 12 months from the closing as per the agreed phrases,” Piramal Enterprises mentioned in a submitting to BSE
Shares of Piramal Enterprises had been buying and selling at Rs 1,419.85 per scrip on BSE, up 8.61 per cent from their earlier shut.
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