Live
- Telugu Desam Party Welcomes several Families into party
- Former Uppal MLA Subhash Reddy resigns from BRS
- Future of the State in Question under YCP Rule: Kavali NDA Alliance Candidate
- Massive Bike Rally in Kaikalur Constituency for unity of yadavs
- BS Maqbool's Son BS Akhil Urges Voters to Support Party in Election Campaign
- Volunteers from 29th Division Resign in Support of Jagan Mohan Reddy Government
- Exciting promo of ‘Sarkaar Season 4’ unveiled; Sudigali Sudheer comes on board
- MLA Vasantha Krishnaprasad Leads Door-to-Door Campaigning in Kondapalli Municipality
- Aadi Saikumar announces his next titled ‘Krishna from Brindavanam’
- Pothuganti Bharath Prasad filed nomination as Nagar Kurnool Lok Sabha candidate
Granules India to divest entire stake in JV firm
Drug firm Granules India on Thursday announced divestment of its entire stake in its joint venture firm Granules OmniChem to its JV partner for an undisclosed sum.
Hyderabad: Drug firm Granules India on Thursday announced divestment of its entire stake in its joint venture firm Granules OmniChem to its JV partner for an undisclosed sum.
Granules OmniChem is an equal joint venture between Granules lndia and SA Ajinomoto Omnichem NV. "The proposed divestment of our 50 per cent stake in the joint venture aligns with our focus on strengthening our core area of business.
With this transaction, SA Ajinomoto Omnichem NV will take over full control of the contract research and manufacturing services (CRAMS) business," Granules India said in a regulatory filing.
"Through this deal, we would like to extend our support to our joint venture partner for their business plan to integrate their small and large molecule businesses which in turn strengthens their business operation and client relations," Granules India CMD Krishna Prasad Chigurupati said.
The manufacturing facility of this joint venture is located in Visakhapatnam.
Conclusion of this transaction is subject to fulfilment of certain closing conditions as well as customary government approvals, the company added.
