HENKEL-SPIC INKS Rs51-Cr TAKEOVER DEAL FOR SWC UNITS
Article Abstract:
Henkel Spic India Ltd (HSI) has acquired the consumer products business of Shaw Wallace and Company (SWC) for Rs51.05 crore. HSI procured 65 percent stake in Calcutta Chemical Company (CCC) and 60 percent stake in Detergents India Ltd (DIL). SWC controls both CCC and DIL. By this acquisition, HSI will hold the distributing rights for the brands of CCC and DIL. The brands of CCC include Margo bath soap, Neem toothpaste and Tuhina skin-care lotion and those of DIL include Chek, Super Chek and Regal detergent bars. HSI is expected to post a turnover of more than Rs200 crore in 1999 as a result of this acquisition. Brand acquisition will help HSI to strengthen its place in the market. HSI has raised Rs20 crore as bridge loan and the remaining Rs40 crore from the promoters to fund the acquisition. (kp)(m)
Comment:
Henkel Spic India Ltd (HSI) has acquired the consumer products business of Shaw Wallace and Company (SWC) for Rs51.05 crore.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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HENKEL TO OFFER SAME PRICE TO ALL CCL SHAREHOLDERS
Article Abstract:
Henkel Spic India Ltd (HSIL) is to soon announce the price for acquiring the stake of SWC Ltd in Calcutta Chemicals Ltd (CCL) and Detergents India Ltd (DIL). It will soon announce the price at which these shares will be picked up. This price will also be applicable to the minority shareholders of the two companies. HSIL is to pick up around 55 percent stake in CCL and 60 percent in DIL from SWC under a negotiated deal. This deal includes acquisition of preference shares in CCL, the Aramusk brand of SWC's consumer products division and all rights and benefits to distribute the products of CCL, which was under SWC till now. The stakes in CCL and DIL will be acquired at a cost of Rs51.05 crore apart from the assets vested in the brands. (gsh)
Comment:
Sells stake in Calcutta Chemicals & Detergents India to Henkel Spic India
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SWC-HENKEL DEAL STAYED
Article Abstract:
The High Court of Calcutta has stayed the deal on sale of assets and management control of Calcutta Chemical Company Ltd (CCL). Under the deal Shaw Wallace Company (SWC) had proposed to sell off the controlling stake and assets of CCL to Henkel Spic India Ltd (HSIL). Mr KD Paul of Aparna Agency had filed a case in the High Court challenging the Company Law Board's (CLB) order approving the deal. Mr Paul holds 26 percent stake in the equity of CCL. (gs)
Comment:
The High Court of Calcutta has stayed the deal on sale of assets and management control of Calcutta Chemical Company Ltd (CCL).
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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