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ICICI Direct Report
In an important development, Aurobindo Pharma Ltd. signed a definitive agreement on October 25, 2020, with New Mountain Capital and its affiliate Jarrow Formulas to sell its 'Natrol' business (wholly owned step-down subsidiary) as a going concern with related assets, liabilities, products, brands and employees for a cash consideration of 550 million U.S. dollar (Rs 4048 crore).
Net worth of the company as on March 31, 2020 was at 82.41 million U.S. dollar.
The transaction is expected to be closed by January 2021 subject to customary closing conditions and regulatory approvals.
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