Dabur Buys Out JV Partner In Asian Consumer Care For Rs 51 Crore
Dabur held 76% stake in the firm before acquisition through its subsidiary Dabur International.
Dabur India through its subsidiaries has acquired the entire stake in Bangladesh-based Asian Consumer Care from its joint venture partner Advanced Chemical Industries for about Rs 51 crore.
Dabur held 76% stake in the firm before acquisition through its subsidiary Dabur International, while the remaining 24% was held by Advanced Chemical Industries, the company said in a regulatory filing.
"We would like to inform you that Dabur International and Dabur (UK) Ltd., both wholly-owned subsidiaries of Dabur India Ltd., have decided to purchase 84,79,187 equity shares and 1,000 equity shares, respectively, of Asian Consumer Care Private Ltd. (subsidiary company of Dabur India Ltd.) from JV partner Advanced Chemical Industries Ltd. as per the JVA termination and share purchase agreement to be executed," the filing said.
The company has acquired 24% stake for 60 crore Bangladeshi taka which, according to present exchange rate, comes to around Rs 51 crore.