Sequent Scientific has terminated Share Purchase Agreement with Tineta Pharma (Tineta) and its Promoters, regarding acquisition of 100% stake in Tineta by the Company. The transaction contemplated under the Share Purchase Agreement has not been materialized. Therefore, the Company will not acquire Tineta.
Earlier, Sequent Scientific had received an approval for acquisition of 100% stake in Tineta Pharma from its existing shareholders for a consideration to be discharged partly by cash and partly by issuance of equity shares of the Company through preferential allotment route.
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.
