Jubilant Ingrevia arm divests 10% stake in Safe Foods Corp for $18.2 mn

Jubilant Ingrevia, Safe Foods Corporation, Jubilant Life Sciences International, Jubilant Ingrevia share price, Safe Foods Corp

New Delhi: Jubilant Ingrevia on Wednesday said its subsidiary Jubilant Life Sciences International Pte Ltd has divested its 10 per cent stake in Safe Foods Corporation for a consideration of $18.2 million (around Rs 134.2 crore).

“Jubilant Life Sciences International Pte. Ltd, Singapore, a wholly-owned subsidiary of the company has divested its entire 10 per cent stake, consisting of 5,40,463 shares, held in Safe Foods Corporation on 21.09.21 for a consideration of $18.2 million (approx. Rs 134.2 crore) pursuant to approval of the plan of merger between Safe Food and Packers Sanitation Services Inc Ltd,” Jubilant Ingrevia said in a filing to BSE.

Shares of Jubilant Ingrevia closed at Rs 760.10 on BSE, down 1.59 per cent from its previous close.

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