ZIM Laboratories to Invest in European, GCC Subsidiaries

MT Newswires Live

03/31

ZIM Laboratories (NSE:ZIMLAB, BOM:541400) board approved an investment of up to 400,000 euros in its wholly owned subsidiary, SIA ZIM Laboratories, to support business expansion in Europe, according to an Indian bourse filing on Friday.

The company's shareholding in the subsidiary remains unchanged at 100%, the filing said.

Additionally, ZIM Laboratories FZE, a wholly owned subsidiary of ZIM Laboratories, will invest up to 466,000 Emirati Dirham in its step-down subsidiary, ZIM Scientific Office, to support growth in the GCC region, the filing added.

The investment does not alter ZIM Laboratories FZE's full ownership of the entity.

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