Dissected by – Team M&AShare Purchase Agreement • December 3rd, 2008
Contract Type FiledDecember 3rd, 2008In May 2008, Emami Limited (“Emami”), an Indian public limited company, entered into share purchase agreements (“ Agreements”) with Devkumar Vaidya and family, the co-promoters of Zandu Pharmaceuticals Works Limited (“ Zandu ”) and persons acting in concert (collectively “Vaidyas”), to acquire 23.62% stake in Zandu. Prior to this acquisition, Emami was already holding 3.9% equity stake in Zandu which was acquired through open market purchases.