In accordance with the provisions of Regulation 30 of the SEBI Listing Regulations and SEBI’s circular no. CIR/CFD/CMD/4/2015 dated September 9, 2015, Piramal Enterprises has informed that the Company’s Pharma Solutions business, a leading Contract Development and Manufacturing Organization (CDMO), has entered into an agreement with G&W Laboratories Inc. to acquire its solid oral dosage drug product manufacturing facility located in Sellersville, Pennsylvania. The transaction closure is subject to customary pre-closing conditions. According to the terms of the agreement, Piramal Enterprises (‘PEL’), through one of its Affiliates, would acquire at closing a 100% stake in G&W PA Laboratories LLC (‘G&W PA’) in an all-cash deal for a total consideration of USD 17.5 million. G&W PA was formed on November 5, 2014. The transaction is not subject to any regulatory approvals. No related party of PEL has any interest in G&W PA. The company has enclosed a press release being issued in this regard.
The above information is a part of company’s filings submitted to BSE.
