Jyothy Laboratories To Buy 20% More Stake In Henkel India

FMCG player Henkel India today said Jyothy Laboratories has made an offer to buy 20 per cent stake in the company from its shareholders at a price of Rs. 41.2 per share, aggregating to a total value of Rs. 95.9 crore.

"This offer is made to all shareholders of target company (Henkel India)... to acquire up to 2,32,90,855, forming 20 per cent of emerging voting capital, at a price of Rs. 41.2," Henkel India said in a filing to the Bombay Stock Exchange.
The open offer, which is managed by Mape Advisory Group, would start on June 24 and ends on July 14, the firm said.
Jyothy Laboratories that makes the 'Ujala' fabric wash has recently announced that it would acquire 50.97 per cent
stake in Henkel India Ltd (HIL) from Germany-based Henkel AG & Co for Rs. 118.7 crore.

Last month, JLL had bought 14.9 per cent stake in HIL from the Indian promoter Tamilnadu Petroproducts Ltd.
If the 20 per cent open offer is fully subscribed, JLL will own 85.87 per cent in Henkel India.

Shares of Henkel India closed at Rs. 39.40 on BSE, up 0.85 per cent from the previous close.


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Posted in: Breaking News