Zydus Wellness to sell shares worth Rs 2575 crore to Cadilla and three others

In a tweet Friday, the Competition Commission of India (CCI) said it "approves the acquisition of shares in Zydus Wellness Limited by True North Funds, Zydus Family Trust, Cadila Healthcare and Pioneer Investment Fund."

New Delhi: Fair trade regulator CCI has given green signal to Cadila Healthcare along with three other entities to acquire shares worth Rs 2,575 crore in Zydus Wellness. Zydus Wellness will fund its acquisition of Heinz India Pvt Ltd through a share sale.

The firm, last month, approved issuing equity shares of face value of Rs 10 each on a preferential basis to Cadila Healthcare, True North, Pioneer Investment Fund and Zydus Family Trust.

In a tweet Friday, the Competition Commission of India (CCI) said it "approves the acquisition of shares in Zydus Wellness Limited by True North Funds, Zydus Family Trust, Cadila Healthcare and Pioneer Investment Fund."

As per the deal, Zydus will issue 72,35,890 shares to True North for Rs 999.99 crore, 7,23,589 shares to Pioneer Investment Fund for 99.99 crores, 85,02,170 shares to Cadila Healthcare for Rs 1,174.99 crore and 21,70,767 shares to Zydus Family Trust for Rs 299.99 crore.