Panacea may de­merge realty biz

The Hindu Business Line - - FRONT PAGE - PTI

Drug firm Panacea Biotec on Wed­nes­day said its pro­mot­ers have en­tered into a fam­ily agree­ment un­der which they plan to de­merge the com­pany’s real es­tate busi­ness into a sep­a­rate firm to be later listed on bourses. Un­der an MoU of oral fam­ily settlement, the pro­mot­ers have de­cided that the com­pany’s real es­tate arm, Rad­hika Heights Ltd, would be man­aged by Ravin­der Jain and may be­come a sep­a­rate listed en­tity, Panacea Biotec said in a fil­ing to the BSE.

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