On November 7, 2022, SeQuent Scientific Limited (SeQuent), India’s top animal health company with a significant presence in veterinary formulations and APIs, inked a legally binding agreement to purchase 100% of the stock of Tineta Pharma Private Limited (Tineta), an Indian organization.
India is a key market for SeQuent, and this acquisition would significantly boost its formulations business there, which will benefit from a stronger position in the livestock sector. The acquisition would cost an enterprise value of Rs. 218 crores, of which Rs. 153 crores will be paid in cash and the remaining Rs. 65 crores will be allocated preferentially as SeQuent equity shares. The deal is subject to standard closing requirements and is anticipated to close in Q4 of FY23.
SeQuent has a proven track record of successfully acquiring and integrating numerous businesses in Europe, Emerging Markets, and India over the past eight years. This transaction adds to that record and demonstrates SeQuent’s ongoing commitment to accelerating growth in our key markets in line with the SeQuent 2.0 strategy.