Dr. Reddy’s Laboratories Ltd (RDY) has released an update.
Dr. Reddy’s Laboratories Ltd. has announced the sale of its entire stake in its Venezuelan subsidiary, which will result in Dr. Reddy’s Venezuela C.A. no longer being a subsidiary of the company. The transaction, involving a stock purchase agreement with Kuraduria Holdings Corp, is not related to the promoter group and is expected to be completed by April 17, 2024. The financial impact is minimal as the Venezuelan subsidiary had no turnover and a negative net worth in the last financial year.
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