Dabur takes majority stake in Excel Investments (FZE)

FMCG major Dabur India on Thursday informed the Street that it has acquired the management control of Excel Investments (FZE), based in Sharjah, UAE. The acquisition was carried by a wholly-owned subsidiary of Dabur India - Dabur International Ltd and post this acquisition, FZE becomes a wholly-owned subsidiary of Dabur.

According to the company, this acquisition will enable the company to hold and consolidate the investments in step-down subsidiaries operating in the West Asia Region. The company has also mentioned in the statement that FZE had acquired 99.99 per cent shareholding stake of in two of the group’s step down subsidiaries - Dabur Pakistan and Asian Consumer Care Pakistan (Private) Ltd.

On August 19, Monday, the company had announced that Dabut International infused capital in its wholly owned step down subsidiary Dermoviva Skin Essentials Inc. Post this infusion, the share capital of Dermoviva Skin Essentials Inc is expected to increase from USD 71,265,000 to USD 87,26,5000 and Dabur India Limited shall hold share capital of USD 5,65,000 being 0.65 per cent, and Dabur International Limited shall be holding share capital of USD 86,700,000 being 99.35 per cent. However, the ultimate aggregate shareholding of Dabur India Limited and Dabur International Limited shall remain the same i.e. 100 per cent.

On Friday, shares of Dabur India are trading at Rs. 428.00, up by Rs. 0.05 from its previous closing of Rs. 427.95 on the BSE. The stock had opened at Rs. 428.00 and touched an intraday high and low of Rs. 429.35 and Rs. 424.40 respectively.