Share price of Strides Pharma Science gained 2.2 percent intraday July 1 as the company got approval for the sale of its investment in Arrow.
The company has received all requisite approvals for the sale of its investment in Arrow for AU$394 million and Strides Pharma Global Pte (SPG), a step-down subsidiary of the company in Singapore, has signed the definitive agreements for the transaction, as per BSE release.
The company expects the transaction to close on or around July 10, 2019.
SPG will receive AU$300 million immediately at closing and balance AU$94 million will be received as deferred consideration backed by a secured interest-bearing instrument.
At 0948 hours, Strides Pharma Science was quoting at Rs 400.65, up Rs 1.80, or 0.45 percent on the BSE.For more market news, click here
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