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Dabur buys out Dubai firm

MUMBAI SEPT. 20. Fast moving consumer goods major, Dabur India, has acquired 10 lakh ordinary and fully paid shares of one pound sterling each of Redrock, engaged in the manufacture and sale of cosmetics, toiletries and health care products in Dubai. The deal works out to around Rs. 7.41 crores.

In a statement to the Bombay Stock Exchange, Dabur India said, Redrock, which operates from the Jebel Ali Free Trade Zone in Dubai, became a wholly-owned subsidiary of Dabur.

Redrock also holds majority stake in Weikfield International (UAE) LLC, a company registered in Sharjah that manufactures and sells cosmetics and food products, catering essentially to the Gulf countries.

It also holds majority stake in a joint venture company in Bangladesh, namely, Asian Consumer Healthcare Private Ltd.

UNI

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