India: Vivimed Labs sells its speciality chemicals division to Clariant Chemicals for $58m

India: Vivimed Labs sells its speciality chemicals division to Clariant Chemicals for $58m

Visual from Vivimed Labs wesbite

Drug firm Vivimed Labs Ltd on Wednesday announced the sale of its specialty chemicals division to Clariant Chemicals India, a subsidiary of Clariant AG Switzerland, at an enterprise value of $58 million (Rs 380 crore).

The company has signed a definitive agreement for the transfer and sale of identified products within speciality division subject to requisite regulatory, statutory and shareholders’ approval, it said in a BSE filing.

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