Jyothy Lab buys 12% in Henkel

Fast moving consumer goods firm Jyothy Laboratories (JLL) today said it had acquired over 140 million shares, amounting to 12.055 of the equity share capital of Henkel India (HIL) through an open offer.

"Pursuant to completion of payment to tendering shareholders, these equity shares have been transferred to Jyothy," JLL said in a filing to the Bombay Stock Exchange (BSE).

Further, 59,360,203 equity shares of HIL, forming 50.975 of its equity share capital, which were acquired from Henkel AG & Co in May, 2011, have also been released from an escrow account into JLL's account, it added.

As on date, JLL's shareholding in HIL stands at 83.655%, the filing added.

In June, JLL completed the buyout of Henkel AG & Co's 50.975% stake in HIL for Rs 118.7 crore. The company, which sells fabric wash brand 'Ujala', had earlier bought 14.95% stake in HIL from the Indian promoter Tamilnadu Petroproducts for around Rs 60 crore.