Advanced Enzyme Technologies has entered into definitive agreements with API maker JC Biotech to acquire 70% stake for a consideration of Rs 50 crore. The proposed transaction was approved by the board of Advanced Enzymes on October 28, 2016. The acquisition is expected to close latest by end of December 2016. Advanced Enzymes will finance the acquisition largely through internal accruals. Upon closing, the acquisition is expected to be accretive to Advanced Enzymes` EPS for FY17.
Advanced Enzyme Technologies is an India based company engaged in research, development, manufacturing and marketing of Healthcare, Nutrition and Bio-Processing products.