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Bayer Diagnostics India Ltd. To Sell Diabetes Care Business For Rs 257 cr


7/26/2006 12:08:25 PM

Mumbai, July 25: The Baroda-based Bayer Diagnostics India Ltd today recommended to sell its Diabetes Care Business to Bayer MaterialScience Pvt Ltd for Rs 257.40 crore. The Rs 257.40 crore price tag has been fixed on the basis of the valuation done by two independent valuers, the company informed the stock exchanges. The board of directors took a decision in this regard at its meeting, it said. The conclusion of this sale is subject to approval by shareholders and the required permission from regulatory authorities, it said.


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