This Article is From Apr 16, 2014

Ascent Capital buys minority stake in Alivira Animal Health

Ascent Capital buys minority stake in Alivira Animal Health

Shasun Pharmaceuticals on Wednesday said private equity investor Ascent Capital Advisors India has acquired a minority stake in Alivira Animal Health, a JV firm in which the company and Sequent Scientific Ltd are partners.

Ascent Capital Advisors India Pvt Ltd, a private equity investor, has bought a minority stake in Alivira Animal Health Ltd, Shasun Pharmaceuticals said in a filing to the BSE.

The company, however, did not disclose the financial details of the deal.

Alivira Animal Health Ltd is a joint venture (JV) between Shasun Pharma and Sequent Scientific and is engaged in developing, manufacturing and sale of veterinary products, including active pharmaceutical ingredients and formulations.

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SeQuent and Shasun hold a 73 per cent and a 27 per cent stake, respectively, in the JV.

In March, Shasun had inked a deal with SeQuent Scientific to form Alivira Animal Health to develop and sell veterinary products in global markets.

Shares in Shasun, on Wednesday, ended at Rs 85 apiece on the BSE, down 3.95 per cent from the previous close.