For sale of Consumer Products Division
Grasim Industries announced that the Company has signed a Business Transfer Agreement with Future Consumer Enterprise for the sale of its Consumer Products Division ("the Division"), on a slump sale basis.The Division is presently engaged in the manufacture of face care wipe, baby wipes and other products in Baby/House care segments and for the Financial year 2014-15, its Net Sales was at Rs. 9.52 crore, against the total Net Sales of Rs. 6,252.34 crore at standalone level and Rs. 32,437.63 crore at consolidated level.
The transaction is expected to be completed in June, 2015.
Axis Capital acted as Advisor to the transaction.
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