Godrej Agrovet has executed a Share Purchase Agreement on 15 June 2021 with Dr. Saar Yavin and Adaya Aroyo (the Sellers), Maxximilk (Israel) and Godrej Maxximilk (GMPL) for purchase/acquisition of 2,95,840 equity shares of GMPL, i.e., 25.10% of the equity share Capital of GMPL from the Sellers and other incidental matters, thereby making GMPL a wholly owned Subsidiary of the Company.
Post acquisition, the company's stakeholding in GMPL will increase from 74.90% to 100%. The cost of acquisition is Rs 10 crore. The transaction is expected to be completed before 30 June 2021.
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