Piramal Enterprises’ (PEL) 100 percent subsidiary-- PEL DRG Dutch HoldCo BV has signed an agreement for the sale of its Decision Resources Group (DRG) business to US-based Clarivate Analytics for a consideration of $950 million (over Rs 6,745 crore). This includes $900 million on closing and $50 million to be received at the end of 12 months from the date of closing. This divestment is expected to be completed by end of February 2020.
Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.