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 Corporate - Restructuring


Aurobindo to hive off unit

Our Bureau

HYDERABAD: Aurobindo Pharma Ltd (APL), the city-based pharmaceutical company, has informed the stock exchanges that in view of shift of management focus towards highly regulated market, it is proposed to sell/dispose of unit-II, a non-regulatory unit situated in Medak district here.

The net block value of this unit as on December 31, 2005 was 0.58 per cent of total net block of fixed assets including current work in progress (CWIP).

The company proposes to seek the consent of shareholders for the proposed hive-off through postal ballot.

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