Piramal Enterprises Limited completed the acquisition of remaining 82.5% in Piramal Phytocare Limited.
The Scheme is subject to the approval of the shareholders, creditors, Securities and Exchange Board of India. BSE Limited, National Stock Exchange of India Ltd., National Company Law Tribunal and other regulatory authorities, as applicable. The Board of Directors of Piramal Enterprises Limited approved the deal. As of November 4, 2019, National Company Law Tribunal. Mumbai Bench has approved the transaction. The Audit & Risk Management Committee of Piramal Enterprises Limited also recommended the deal. Bansi S. Mehta & Co. acted as valuer and Asit C. Mehta Investment Intermediates Limited provided fairness opinion on the deal.
Piramal Enterprises Limited (BSE:500302) completed the acquisition of remaining 82.5% in Piramal Phytocare Limited (BSE:532979) on December 2, 2019.