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Aurobindo Pharma Ltd and Cronus Phama Specialities India Pvt Ltd have terminated the pact which was to provide Aurbindo a 51 per cent ownership in Cronus Phama.
On August 12, Hyderabad-based Aurobindo had announced the agreement to buy the majority stake in Cronus by subscribing to 95,059,963 equity shares of ₹10/- each, at a premium of ₹34.18 per equity share aggregating to ₹420 crore.
"The Board of Directors at its meeting held today has approved the termination of aforesaid agreements and the paries have mutually agreed and terminated the said agreements, " Aurobindo informed the BSE on Friday.
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