Fermenta Biotech announces merger with DIL
20 December 2019 | News
DIL has been renamed as Fermenta Biotech Limited
Thane based biotech company Fermenta Biotech has announced that the Indian courts recently approved the merger of the company, Fermenta Biotech Limited (‘FBL’), with its parent company, DIL Limited (‘DIL’), which held 91.20% of the equity share capital of FBL. Post the merger, the control and management of the company, remain unchanged.
Also, as a result, DIL has been renamed as Fermenta Biotech Limited. The company has highlighted that this merger brings together the rich asset base of DIL and the strong operational business of FBL into a single entity, thereby strengthening the company's balance sheet and cashflows further.
