Dabur India acquires remaining 24% stake in Asian Consumer; stock marginally up

14 Jul 2022 , 11:50 AM

Dabur India Limited informed that M/s Dabur International Limited and M/s 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 of M/s Asian Consumer Care Private Limited (a subsidiary company of Dabur India Limited) from the JV partner – M/s Advanced Chemical Industries Limited, respectively, under the JVA Termination and Share Purchase Agreement to be executed.

Shareholding in Target Company will be increased from 76% to 100% (by wholly owned subsidiaries of Dabur India Limited) following the termination of the JV agreement and the execution of a share purchase agreement.

The consideration for such acquisition is payable in cash of BDT 60,00,00,000 (approx. Rs50.90 crore).

Furthermore, Asian Consumer Care Private Limited will become a wholly owned subsidiary of Dabur India Limited.

At around 11.53 AM, Dabur India was trading at Rs546.95 up by Rs1.8 or 0.33% from its previous closing of Rs545.15 on the BSE. The scrip opened at Rs547.70 and touched intraday high and low of Rs552 and Rs545.10 respectively.