SeQuent Scientific increases stake in Brazil's Evance Group to 100 pc


PTI | New Delhi | Updated: 12-01-2022 17:42 IST | Created: 12-01-2022 17:42 IST
SeQuent Scientific increases stake in Brazil's Evance Group to 100 pc
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Animal health firm SeQuent Scientific on Wednesday said it has increased its stake in Brazil-based Evance Group to 100 per cent.

The company, through its principal operating company Alivira Animal Health, has completed the consolidation of its Brazilian operations by increasing its shareholding in Evance Group by 30 per cent to 100 per cent for an effective consideration of Rs 44.6 crore, SeQuent Scientific said in a statement.

Since its acquisition by Alivira in 2016, Evance Group has grown at a CAGR (compound annual growth rate) of 57 per cent as against the Brazil market's growth of 10-12 per cent CAGR in the same period, and is now ranked among the top-10 animal health players in the poultry and swine segments in Brazil, it added.

''This consolidation of Evance Group further builds on Alivira's strong track record of successfully acquiring and integrating into its global businesses,'' SeQuent Scientific noted.

The company, in the last fiscal, successfully completed the 100 per cent consolidation of Provet in Turkey, Fendigo BV and Fendigo SA in Europe, it added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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