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Nicholas buys ICI’s drug business for Rs 70 c

Pharmaceutical major Nicholas Piramal India Ltd. (NPIL) has acquired the pharmaceutical business of ICI (India) Ltd. For Rs 70 crore in an all-cash deal, on a going concern basis. The amount includes Rs 14 crore towards acquiring net current assets of ICI and Rs 1 crore to NPIL by ICI towards transaction costs. The deal includes ICI’s key brands and its manufacturing facility at Ennore, near Chen...
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