Hester Biosciences to acquire 50 pc stake in Tanzania firm

Animal healthcare firm Hester Biosciences on Tuesday said it has entered into a pact to acquire 50 per cent stake in Tanzania-based animal health products distribution firm Thrishool Exim Ltd, for USD 2.25 million around Rs 16 crore.Thrishool has been operating in Tanzania since 2012. The turnover of Thrishool in the last financial year, ending 31 December 2020, was Tanzanian Shillings 7.10 billion approximately USD 3 million, it added.

Animal healthcare firm Hester Biosciences on Tuesday said it has entered into a pact to acquire 50 per cent stake in Tanzania-based animal health products distribution firm Thrishool Exim Ltd, for USD 2.25 million (around Rs 16 crore).

Thrishool has been operating in Tanzania since 2012. Its product range includes veterinary feed additives, feed raw materials, nutritional supplements, therapeutics and equipment sourced from recognised international producers, Hester Biosciences said in a regulatory filing.

''The consideration for the proposed acquisition is USD 2.25 million,'' it added.

The proposed collaboration, along with the additional range of animal vaccines from Hester Africa, will synergise Hester's distribution thrust in Tanzania as well as in Africa, Hester Biosciences said. ''The turnover of Thrishool in the last financial year, ending 31 December 2020, was Tanzanian Shillings 7.10 billion (approximately USD 3 million),'' it added. Shares of Hester Biosciences closed at Rs 2,472 on BSE, down 0.54 per cent from the previous close.

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