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Strides Arcolab sells its generic pharmaceuticals operations in Australia & Southeast Asia to Watson Pharmaceuticals
Source: Capital Market, Tuesday, January 24th, 02:49 PM
Strides Arcolab has announced the sale of its 94% shareholding in Ascent Pharmahealth, its subsidiary with operations in Australia and Southeast Asia to Watson Pharmaceuticals, Inc. As part of the transaction, Watson also acquired the remaining 6% shareholding associated with Dennis Bastas, CEO of Ascent. The transaction was signed and closed simultaneously. The cash offer from Watson values Ascent at an enterprise value of AU$ 375 million.
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