Duphar, Solvay to recast alliance

Post restructuring, Solvay will have a 60.5 per cent stake in the new company while D Vasant Kumar and family will have 60.5 per cent stake in DIL. Solvay will transfer its entire stake of 38.8 per cent in DIL to Vasant Kumar and family in lieu of the latter8217;s 21.7 per cent in the new pharma company.

The public will hold the remaining shares in both the companies, the statement said. In addition, two brands Vertil and Colospa which are presently owned by Vasant Kumar and family will be assigned to Solvay as part of consideration for the realignment.

After the demerger, DIL will seek to enhance its core competency in its existing chemicals business, explore growth opportunities and strategic options in knowledge-based industries, including Ramp;D, Biotech and information technology for future growth, the statement said.

DIL markets pharmaceutical products as well chemical intermediates. Its stock was up Rs 40.75 at Rs 550.35 on the Bombay Stock Exchange in afternoon trading on Monday.