Piramal Enterprises’ subsidiary company -- Piramal Pharma (PPL) has approved the acquisition of additional 3,43,04,900 equity shares of the face value of Rs 10 each of Convergence Chemicals (CCPL) for an aggregate cash consideration of Rs 65.10 crore from Navin Fluorine International. Consequent to this Acquisition, CCPL would become a wholly owned subsidiary of PPL. The Acquisition is likely to be completed by January 31, 2021.
Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.
