Asahi Songwon Colors has executed a Share Purchase Agreement (SPA) with Atlas Life Sciences (ALSPL) and certain identified promoters of ALSPL for acquisition of 100% stake in ALSPL in three tranches from certain identified promoters and other shareholders of ALSPL. Also, acquisition of shares under first tranche i.e. 78% stake in ALSPL is completed on April 18, 2022 and balance 22% stake in ALSPL will be acquired in two tranches (i.e. 11 % stake in each tranche) and is expected to be completed on or before March 31, 2025.
Asahi Songwon Colors has entered into API and Bulk Drug business in order to add a new growth lever and to create significant value by leveraging combined capabilities and unlock synergies. The API business of ALSPL has diversified portfolio of 6 plus products with several of them in R&D product pipeline.
