Vivimed Labs is planning to sell part of its specialty chemicals business to a strategic investor or special purpose vehicle (SPV) of the company or third party on slump sale basis for a consideration of not less than Rs 380 crore. In this regard, the company has received approval from its board at the meeting held on September 12, 2015, while the members’ approval will be taken through postal ballot
The company will sell the same with an aim to optimise the capital structure of the company and prepare for next leg of growth across its business units and post an ongoing review of the strategic options.
Vivimed Labs is a listed company engaged in the business of manufacturing products (active ingredients, formulations, etc) for pharmaceutical, personal care and colour chemistry industry. VLL (Consolidated) has manufacturing facilities in India and Overseas.
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