| In accordance with the provisions of Regulation 30 of the SEBI Listing Regulations and SEBIs circular no. CIR/CFD/CMD/4/2015 dated September 9 2015 we wish to inform you that the Companys Pharma Solutions business a leading Contract Development and Manufacturing Organization (CDMO) has entered into an agreement with G&W Laboratories Inc. to acquire its solid oral dosage drug product manufacturing facility located in Sellersville Pennsylvania. The transaction closure is subject to customary pre-closing conditions. According to the terms of the agreement Piramal Enterprises Limited (PEL) through one of its Affiliates would acquire at closing a 100% stake in G&W PA Laboratories LLC (G&W PA) in an all-cash deal for a total consideration of USD 17.5 million. G&W PA was formed on November 5 2014. The transaction is not subject to any regulatory approvals. No related party of PEL has any interest in G&W PA. | 20/Jun/2020 |
