Advanced Enzyme’s subsidiary to acquire German company
DSIJ Intelligence / 27 Jul 2017
The company is acquired for a total consideration of Euro 7.65 million and this acquisition is expected to be completed by mid of August 2017
Advanced Enzyme Technologies announced on Thursday that the company’s wholly-owned subsidiary, Advanced Enzymes Europe B.V, has entered into a definite agreement with Evoxx Technologies GmbH, which is engaged in the development and production of enzymes and certain nutritional carbohydrates.
The company is acquired for a total consideration of Euro 7.65 million and this acquisition is expected to be completed by mid of August 2017
Evoxx reported a total turnover of approximately Euro 3 million.
On completion of this acquisition, Evoxx will become a direct subsidiary of Advanced Enzymes Europe B.V and indirect subsidiary of Advance Enzyme Technologies.
The stock was trading at Rs 337.80, up by 0.69% on BSE at 1221 hours. It opened at Rs 336.70 per share. It touched its intraday high and low at Rs 340.70 and Rs 333.50 per share.
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