Dabur buys Balsara firms for Rs 147cr

The board of directors of Dabur India today cleared a proposal to buy controlling stakes in Balsara Hygiene Products, Balsara Home Products and Besta Cosmetics for Rs 147 crore.

According to a release issued by Dabur to the BSE today, the company will be paying Rs 120 crore, Rs 7 crore and Rs 20 crore for Balsara Hygiene Products, Balsara Home Products and Besta Cosmetics, respectively.

"The acquisition will be financed through internal accruals and/or borrowings," the release added.

"Upon acquisition of the aforesaid entities, the company will acquire controlling stake in these companies, and will be able to commercially exploit all the patents, trade marks and other IPRs owned and held by the three companies viz. Balsara, Babool, Promise, Meswak, Odonil, Odomos, Odopic, Sani Fresh," the release said.

The process of seeking approval of shareholders through postal ballot is proposed to be completed by the 2nd week of March, 2005, the release said.