Fermenta Biotech share price jumped over 6 percent intraday on December 3 after the company’s US arm acquired membership interest in AGD Nutrition.
Fermenta Biotech USA, LLC, a wholly-owned subsidiary of the Company, has acquired a membership interest in AGD Nutrition, LLC. The wholly-owned subsidiary of the Company viz. Fermenta Biotech USA, LLC (Delaware limited liability company) acquired 52 percent of the Membership Interest in AGD Nutrition LLC, the company said in an exchange filing.
AGD Nutrition LLC is in a similar line of business as that of the company and Fermenta Biotech USA, LLC. The main purpose of the acquisition is to facilitate exports and enhance the company’s footprint in North America, it said.
The aggregate consideration for the purchase of membership interest shall be USD 1,260,500.
The stock was trading at