Multiples, CPPIB and Jhunjhunwala’s RARE to purchase Cadila’s Animal Well being biz for Rs 2921 crores


A consortium of monetary traders together with Rakesh Jhunjhunwala’s RARE Enterprises, Multiples Alternate Asset Management and Canada Pension Plan Investment Board (CPPPIB) have agreed to amass the animal well being enterprise of Zydus Cadila Group for round Rs 2921 crores.

The consortium, by an SPV managed by them, has signed a definitive settlement to amass Animal Healthcare Established Markets Enterprise centered on India and sure different international locations, the corporate stated in a press release.

ET first reported concerning the potential transaction on Feb 1.

“The lump sum consideration for the transaction is fastened at Rs 2921 crores on a money free and debt free foundation, topic to sure deadline changes and different circumstances,” the assertion stated.

Zydus AH is the second largest and one of many quickest rising animal well being companies in India. The enterprise enjoys a management place throughout a large spectrum of therapeutic and dietary merchandise for livestock and poultry animal segments. It employs roughly 700 individuals and has one manufacturing facility in Haridwar.

“Zydus AH is a robust chief within the Indian animal well being market with sturdy manufacturers, complete product portfolio and intensive distribution community,” stated Renuka Ramnath, Founder and CEO, Multiples Alternate Asset Administration.

Multiples, together with its consortium companions, will purchase 100% enterprise of Zydus AH by a droop sale transaction. The transaction is topic to closing circumstances and receipt of all statutory and different approvals and is predicted to be accomplished inside a interval of 90 days.

“We’re delighted to companion with CPP Investments and Multiples in investing right into a market main enterprise, in a section which has enormous development potential and has a top-quality administration group,” stated Rakesh Jhunjhunwala, Companion, RARE Enterprises.

“Over the past three many years Zydus AH has grown to change into a pioneer and market chief within the Indian animal well being trade. With Multiples and its consortium companions, dedicated to rising the enterprise, we’re positive that Zydus AH will proceed to develop and strengthen its place within the trade,” stated Pankaj Patel, Chairman,


For Multiples, J Sagar and Associates acted because the Authorized Advisors and PWC acted as monetary and tax advisors.

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