Advanced Enzyme Technologies to acquire SciTech Specialties for Rs 316.26 million
On completion of the aforesaid investment, Advanced Enzyme Technologies will get a controlling stake of 51 per cent in SciTech Specialties with a total shareholding of 520,408 equity shares
Advanced Enzyme Technologies is set to acquire SciTech Specialties, a contract manufacturing company with niche technology specialising in effervescent granules and tablets, for Rs 316.26 million.
On completion of the aforesaid investment, Advanced Enzyme Technologies will get a controlling stake of 51 per cent in SciTech Specialties with a total shareholding of 520,408 Equity Shares.
Advanced Enzyme Technologies informed that the acquisition synergises and fits with its move to expand its B2C business. SciTech Specialties has important applications in three of Advanced Technologies’ existing verticals (human health, animal nutrition, and food), providing new delivery systems for existing products and opening avenues for additional sales to AETL’s existing customer base.
The company intends to complete the acquisition by January 31, 2021.
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