FMCG major Dabur said the Delhi High Court has approved the scheme to merge Fem Care Pharma, hair removal and liquid soap manufacturer, with it.
According to the statement issued by Dabur, the high court 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 P D Narang said it would accelerate company’s growth in core FMCG business. “Besides giving Dabur a strong foothold in the high-growth skin-care market with an established brand name FEM, this merger also offers us a platform to enter newer product categories and markets,” Narang said.
Dabur India had acquired 72.15% shares of Fem for Rs 203 crore in an all-cash deal. After obtaining the regulatory approvals, Dabur acquired additional 20% stake for Rs 56 crore through an open offer.
Fem Care Pharma, also known as FEM, has a sizeable international market presence in markets such as Yemen, Maldives, Mauritius, Malaysia, UAE and Oman.
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