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Our Bureau

Hyderabad, Dec. 15

Aurobindo Pharma Ltd has informed the BSE that the company's board has approved the merger of APL Life Sciences Ltd and Senor Organics, both being wholly owned subsidiaries of the company, with itself. With the scheme to be effective from April 1, 2006, all the assets and liabilities of APL Life and Senor shall be transferred to Aurobindo. The company shall not issue any shares or other consideration as both APL Life and Senor are 100 per cent subsidiaries. The scheme is subject to requisite consent, approval of the majority of the shareholders of the companies, the Andhra Pradesh High Court, stock exchanges, and of other statutory authorities.

Further, Aurobindo has informed that they have allotted 53,976 equity shares of Rs 10 each at a premium of Rs 357.60 per share for cash to its employees under ESOP Scheme 2004.

More Stories on : Mergers & Acquisitions | Pharmaceuticals

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