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Cadila Healthcare on Monday said its board has approved the merger of various wholly—owned subsidiaries, including Zydus Animal Health Ltd with itself.
The board of directors of Zydus Animal Health Ltd (ZAHL), Live Healthcare Ltd (LHL) and Zydus Pharmaceuticals Ltd (ZPL) at their respective meetings held today approved amalgamation with Cadila Healthcare Ltd, the company said in a filing to BSE.
The board of Cadila Healthcare also approved the amalgamation with ZAHL, LHL and ZPL, it added.
In terms of the scheme, ZAHL, LHL and ZPL will be amalgamated with the company followed by the dissolution without winding up of ZAHL, LHL and ZPL.
“Upon the scheme being effective, in consideration of the transfer and vesting of the undertakings of ZAHL, LHL and ZPL (the transferor companies) in the company...all the equity shares issued by the transferor companies and held by the company and its nominees shall stand cancelled and extinguished,” it added.
Zydus Cadila group has global operations in four continents spread across USA, Europe, Japan, Brazil, South Africa and 25 other emerging markets.
Shares of Cadila Healthcare closed at Rs 770.35 on the BSE, up 0.92 per cent from their previous close.
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