Cadila Healthcare is in focus after it sold its animal health business to a clutch of investors. The consortium includes Canada Pension Plan Investment Board and RARE Enterprises.

The transaction has happened at Rs 2,921 crore. The deal has happened at a valuation which is about 24 time EBITDA multiple which is in-line with what Sequent Scientific is trading at.

Reacting to the deal, Surajit Pal of Prabhudas Lilladher said that the animal health business was never the main focus for Cadila and hence this will beneficial for the company.

“I think this is beneficial for two reasons. One thing is that it will realign the resources inside the company and secondly it will also help them to get better-thinking process of the management,” he said.

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(Edited by : Aditi Gautam)