4 hrs ago
Thyrocare to Sell Nueclear Stake, Buy Properties for ₹20.58 Crore
Thyrocare plans to sell its imaging-business subsidiary, Nueclear Healthcare.
Trovera Healthcare will buy the subsidiary.
Thyrocare expects to receive about ₹141.40 crore.
Part of the payment will be cash, and part will be special convertible shares.
Thyrocare will also buy some buildings and land from Nueclear.
These properties are in Gurugram and Hyderabad and are already used for Thyrocare laboratories.
The company says the sale will help it focus on its main pathology business.
Shareholders and regulators must approve the transactions before they are completed.
Thyrocare Technologies will sell its entire 100% stake in Nueclear Healthcare Limited for approximately ₹141.40 crore.
Trovera Healthcare Private Limited will acquire Nueclear Healthcare through a share purchase agreement.
The consideration comprises ₹81.90 crore in cash and 42,500 Trovera compulsorily convertible preference shares valued at ₹59.50 crore.
Thyrocare will acquire land and buildings in Gurugram and Hyderabad from Nueclear for ₹20.58 crore.
The transactions require shareholder approval and other applicable statutory and regulatory clearances.
- Who
- Thyrocare Technologies, Nueclear Healthcare Limited, and Trovera Healthcare Private Limited.
- What
- Thyrocare plans to divest its entire Nueclear stake and acquire certain properties from the subsidiary.
- Where
- The properties are located in Gurugram, Haryana, and Hyderabad, Telangana.
- When
- The announcement was made on Monday; no specific calendar date was provided.
- Why
- Thyrocare said the divestment will allow it to focus capital and management attention on its core pathology business.
Key facts
- Divestment value
- Approximately ₹141.40 crore
- Stake being sold
- 100% of Nueclear Healthcare Limited, comprising 1,11,11,000 equity shares
- Buyer
- Trovera Healthcare Private Limited
- Cash consideration
- Approximately ₹81.90 crore
- Share consideration
- 42,500 Trovera compulsorily convertible preference shares valued at ₹59.50 crore
- Property acquisition
- Land and buildings in Gurugram and Hyderabad for ₹20.58 crore, excluding stamp duty and related charges
- Approvals
- Thyrocare shareholder approval and other applicable statutory and regulatory approvals
Sources
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