facebook-page-view
Advertisement

Jyothy Labs In Talks To Buy 51% Of Henkel India For $203M

By Reuters

  • 27 Apr 2011

Indian fabric whitener and detergent maker Jyothy Laboratories Ltd is in advanced talks to buy Henkel AG's 51 per cent stake in its Indian arm Henkel India for 9 billion rupees ($202.8 million), three sources with direct knowledge of the development told Reuters.

On March 16, Jyothy picked up a 14.9 per cent stake in Henkel India from Tamilnadu Petroproducts for 607.3 million rupees.

While Germany-based Henkel AG is looking to sell its Indian soap brand Margo separately in hopes of attracting a higher value, the Jyothy bid is for 51 per cent of the entire business, including Margo, the sources said.

Advertisement

HSBC represents Henkel in the transaction, while Indian boutique investment bank Mape Advisory Group represents Jyothy Laboratories.

Both Jyothy and Henkel India operate in the home care, fabric care, dish washing, personal care and household cleaning segments in India.

Henkel India is known for its hair styling brand Schwarzkopf Professional, detergent brands Henko Stain Champion and Mr White and home care brand Pril. It also offers a range of adhesives.

Advertisement

Jyothy Labs is known for its Ujala range of fabric care products.

Jyothy Labs could not be immediately reached for comment while Henkel India did not respond to email seeking comment.

Advertisement

Share article on

Advertisement
Advertisement