HC approves the Dabur-Fem Care merger
According to a statement issued by Dabur, the High Court has approved the scheme of amalgamation of Fem Care Pharma. The scheme was already approved by equity shareholders, secured and unsecured credi
April 26, 2010 | comments ( 0 ) |
According to a statement issued by Dabur, the High Court has approved the scheme of amalgamation of Fem Care Pharma. The scheme was already approved by equity shareholders, secured and unsecured creditors of Dabur and the ministry of corporate affairs, the statement said.
Dabur India group director PD Narang said it would accelerate company's growth in core FMCG business. “Besides giving Dabur a strong foothold in the high-growth skincare market with an established brand name Fem, this merger also offers us a platform to enter newer product categories and markets,” he said.
Dabur India had acquired 72.15 per cent shares of Fem for Rs 203 crore in an all-cash deal. After obtaining the regulatory approvals, Dabur acquired additional 20 per cent stake for Rs 56 crore through an open offer.
Fem Care Pharma, which is also known as FEM has a sizeable international market presence in markets like Yemen, Maldives, Mauritius.
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