Latest News | Dabur Acquires Entire Stake in Asian Consumer Care from JV Partner for Rs 51 Crore

New Delhi, Jul 13 (PTI) 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 per cent stake in the firm before acquisition through its subsidiary Dabur International, while the remaining 24 per cent was held by Advanced Chemical Industries, the company said in a regulatory filing.

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"We would like to inform you that Dabur International and Dabur (UK) Limited, both wholly-owned subsidiaries of Dabur India Limited, have decided to purchase 84,79,187 equity shares and 1,000 equity shares, respectively, of Asian Consumer Care Private Limited (subsidiary company of Dabur India limited) from JV partner Advanced Chemical Industries Limited as per the JVA termination and share purchase agreement to be executed," the filing said.

The company has acquired 24 per cent stake for 60 crore Bangladeshi taka which, according to present exchange rate, comes to around Rs 51 crore.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)