The subsidiary of Kilpest India, 3B BlackBio Biotech India, has signed a non-binding Letter of Intent (LoI) to purchase 100% of the stock of a European firm that specialises in the development and production of cutting-edge, high-quality products for the life science and molecular diagnostic markets. An investment in this company would be strategic in the related fields of molecular diagnostics and life science research.
The transaction is outstanding regulatory approvals, as well as the customary financial, legal, and business due diligence. To finish the due diligence, the parties have agreed on a 60-day exclusivity window. 3B Blackbio Biotech India and its affiliate TRUPCR Europe will pay the full purchase price out of internal accruals.
Kilpest India is one of the top agribusinesses in India.The company produces biological compounds derived from plants, animals, and microorganisms and imports, exports, buys, and sells them.