Date: 2011-09-29
Type of information: Company acquisition
Acquired company: Evotec's Joint Venture with DIL Limited (India)
Acquiring company: Evotec (Germany)
Amount: €1.7 million
Terms: Evotec has signed a Share Purchase Agreement to acquire the remaining 30% of equity of its Joint Venture with DIL Limited, India for €1.7M.
The acquisition of DIL’s 30% outstanding equity in the joint venture will give Evotec 100% ownership of this subsidiary. Evotec acquired 70% of the equity of Research Support International Private Limited (RSIPL), in August 2009 which was subsequently renamed Evotec (India) Private Limited. The transaction is anticipated to close on 4th October.
With its now 100% owned Indian subsidiary Evotec has successfully expanded its global scientific resource to offer the most complete and cost efficient drug discovery solutions to the pharmaceutical and biotech industry. Operating out of Thane, Mumbai, Evotec India has 140 scientists, focusing primarily on Medicinal Chemistry. Going forward the intention is to further grow and expand this capacity.
Details:
Related: Drug discovery
