Zydus Animal Health & Investments Limited (ZAHL), part of Zydus Group is exiting its investment in Mylab Discovery Solutions Private Limited by selling its shares in the diagnostics company back to Adar Poonawalla’s Rising Sun Holding, for the original consideration of ₹106 crores, the company said in a statement to stock exchanges.
The termination is expected to be completed in 15 working days from the date of signing of the termination deed, the company statement added.
Zydus didn’t provide reasons for the termination of the investment.
Source: Economic Times