Thursday 22 January 2015

Emami shares up over 3% at close after Australian acquisition

     Emami’s UAE- based wholly owned subsidiary Emami Overseas FZE has acquired controlling stake of 66.67% in Fravin Pty (Fravin), a company based in Australia with major strength in R&D and manufacture of natural and organic personal care products in Australia. Consequent to the above acquisition, Fravin along-with its three subsidiary companies has also become subsidiaries of Emami.
     Emami manufactures products under various categories namely Hair Care, Skin Creams and Lotions, Talcum Powder and ayurvedic health care products. Emami's Boroplus portfolio is worth Rs 400 crore, comprising of three brands -- BoroPlus Antiseptic Cream, Boroplus Advanced Moisturizing Lotion and BoroPlus Prickly Heat Powder.
     Emami closed at Rs 892.75 up Rs 34.3, or 4 percent on the BSE.

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