Dabur India, a manufacturer of packaged consumer goods, said in a stock exchange filing that it had paid around 51 crores to buy Advanced Chemical Industries’ whole stake in Asian Consumer Care, a joint venture company headquartered in Bangladesh.
Before purchasing the remaining 24% held by Advanced Chemical Industries through Dabur International, Dabur held 76% of the company. According to the present exchange rate, the purchase price of 24%, or Rs 60 crore Bangladeshi taka, is approximately Rs 51 crore.
“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.
