Piramal Enterprises’ (PEL) wholly owned subsidiary, Piramal Holdings (Suisse) SA, has entered into a definitive agreement thereby divesting its entire stake in Piramal Imaging SA (PISA), its subsidiary, to Alliance Medical Acquisitionco (Alliance).
Consequent to the divestment, Piramal Imaging and Piramal Imaging GmbH, wholly-owned subsidiaries of PISA will also become subsidiaries of Alliance and cease to be step-down subsidiaries of PEL.
Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.