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Piramal Enterprises share price jumps 8% after $140 million deal with Life Molecular Imaging | Stock Market News
Source: Live Mint
Stock Market Today: Piramal Enterprises share price gained more than 8% during the the intraday trades on Tuesday. Piramal Enterprises announced that it will be receiving post $140 million deal with Life Molecular Imaging. Piramal Enterprises had entered agreement to divestment of one of its step-down subsidiaries (Piramal Imaging SA) to Alliance Medical Acquistionco Limited
Pirmal Enterprises share price opened at ₹960.05 on the BSE on Tuesday, slightly higher than the previous close of ₹950.35. The Piramal share price there after gained further more to intraday highs of ₹1027.75, which translated into gains of more than 8%.
Piramal Enterpises in 2018 had agreed to divestment of one of its step-down subsidiaries (Piramal Imaging SA) to Alliance Medical Acquistionco Limited (AMAL). The consideration agreed to be paid for such divestment included deferred consideration which was contingent on future profits of Piramal Imaging SA and its subsidiaries (the “Imaging Group”)
Pirmal Enterrprises now In its release on the exchanges on Monday 13 January 2025, Piramal Eneterprises said that ” We wish to inform you that the Company has now been informed by Life Healthcare Group Holdings Limited (Life Healthcare), (part of the group that acquired Piramal Imaging SA from the Company in 2018), that they have entered into binding agreements for sale of Life Molecular Imaging Limited, a member of the Imaging Group, which agreement is subject inter alia to receipt of the approval of the shareholders of Life Healthcare and various regulatory and other approvals.
On completion of the Proposed Transaction, the Company (through its subsidiary) will become eligible to receive an estimated amount of USD 140 million (subject to final closing adjustments), expected to be received by the Company in FY 2026. The Company may also receive further amounts in subsequent years from any eligible profits and future earnouts relating to the Imaging Group, subject to a maximum of USD 200 million (inclusive of the above USD 140 million)
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