Novozymes pays $115M for enzymes unit

Denmark's Novozymes is shelling out $115 million for the enzymes business of India's Biocon. For Novozymes, the move marks an expansion of its work in India, a market it entered 10 years ago. The enzymes maker has been steadily expanding its R&D efforts. Biocon's Kiran Mazumdar-Shaw says the money will likely go into its war chest for European acquisitions, further propelling a wave of M&A activity involving Indian companies.

- see this release
- here's the AFX report on the buyout

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