Hester Biosciences Limited completed the acquisition of 22.5% stake in Thrishool Exim Limited.
December 31, 2022
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Hester Biosciences Limited (BSE:524669) agreed to acquire 22.5% stake in Thrishool Exim Limited for $2.8 million on November 9, 2021. The transaction will be settled for an upfront cash payment of $2.3 million and an additional payment of $0.25 million each in next two years upon achieving the specified EBITDA. Under the terms of the transaction, Hester will acquire 486 shares. Additionally, Hester will subscribe to 1,188 shares. Post completion which will result in Hester holding 50% stake in Thrishool. The turnover of Thrishool in the last financial year, ending December 31, 2020, was $3 million. The proposed transaction is subject to receipt of approval from Tanzanian Fair Competition Commission and Tax Clearance Certificate from Tanzania Revenue Authority.
Hester Biosciences Limited (BSE:524669) completed the acquisition of 22.5% stake in Thrishool Exim Limited in Fourth Quarter Financial Year 2022.
Hester Biosciences Limited is an India-based animal healthcare company. The Company is engaged in providing vaccines, health products and diagnostic laboratory services. The Company operates through four segments: Poultry Healthcare, Animal Healthcare, Petcare, and Others. The Animal Healthcare vaccines include Goat Pox Vaccine, Live Brucella, PPR Vaccine - Nigerian 75/1, and PPR Vaccine - Sungri/96. Its Poultry Healthcare products include Gumboro I, Gumboro I +, Inactivated Chick ND, Inactivated Coryza, Inactivated Coryza+, Inactivated EDS, Inactivated FC3, Inactivated FC4, Inactivated IB, Inactivated IB+, Inactivated IB-H52, Inactivated IBD, Inactivated IBD ND, Inactivated IBD ND EDS, Inactivated ND IB, Inactivated Pullet ND, Live B1, Live B1 M48, Live FP, Live H120, Live Las, Live Las Mas, Live M48, Live R2B, Live S-One, MD-Bivalent HVT+SB1, MD-HVT (FD), and Thermostable ND. Its Petcare products include Cefshot Tazo Injection, Hestacef CV, Hestacef DS, Hestaflam Tablet and Hestaliv.