Sequent Scientific has completed sale of investments held in Strides Pharma Science to Pronomz Ventures LLP. The proceeds of the sale (net of taxes) will be predominantly utilised to consolidate the company’s shareholding in Provet Veteriner Urunleri San. Ve Tic. A. S., Turkey (Provet) by acquiring 40% stake held by Dr. Husein Aydin in Provet, with the balance to be used to pare the outstanding debt of the company. Post the acquisition of minority stake, which is expected to close on or before October 31, 2020, Provet will become a wholly owned subsidiary of the company.
Sequent Scientific is an integrated pharmaceutical company with a global footprint headquartered in Bangalore, India which has presence in different pharmaceutical verticals including APIs, Animal Health, Analytical Services, CRAMS and specialty chemicals. Sequent is the world's largest producer of Anthelmintics and by far the strongest player in the Veterinary API business.
