NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » Business » Sterling Biotech to buy Rallis' gelatine biz

Sterling Biotech to buy Rallis' gelatine biz

January 22, 2004 13:06 IST

Rallis India Ltd, a Tata group company, will sell its gelatine business to Sterling Biotech Ltd for Rs 47 crore (Rs 470 million) in an all cash deal.

Rallis India and SBL on Thursday entered into a memorandum of understanding for the sale and transfer of the former's gelatine business, the company informed the National Stock Exchange.

The sale of business is subject to due diligence and approvals required under the applicable laws, it said.

© Copyright 2018 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.