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  • Business Line - Industry & Economy - Economy - CCEA Okays Reckitt Bid To Invest Rs 3,300 CR For Paras Buy

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    Reckitt Benckiser to invest around Rs 3,300 crore via a subsidiary to fund its acquisition of Paras pharmaceuticals. The approval is expected to result in foreign direct investment (FDI) amounting to Rs 3,300 cr approximately in the wholly-owned subsidiary of Reckitt Benckiser plc.

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    Business Line _ Industry & Economy _ Economy _ CCEA Okays Reckitt Bid to Invest Rs 3,300 Cr for Paras Buy

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    Reckitt Benckiser to invest around Rs 3,300 crore via a subsidiary to fund its acquisition of Paras pharmaceuticals. The approval is expected to result in foreign direct investment (FDI) amounting to Rs 3,300 cr approximately in the wholly-owned subsidiary of Reckitt Benckiser plc.

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    3 views1 page

    Business Line - Industry & Economy - Economy - CCEA Okays Reckitt Bid To Invest Rs 3,300 CR For Paras Buy

    Uploaded by

    sarmapavan
    Reckitt Benckiser to invest around Rs 3,300 crore via a subsidiary to fund its acquisition of Paras pharmaceuticals. The approval is expected to result in foreign direct investment (FDI) amounting to Rs 3,300 cr approximately in the wholly-owned subsidiary of Reckitt Benckiser plc.

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    Business Line : Industry & Economy / Economy : CCEA okays Reckitt bid ... http://www.thehindubusinessline.com/industry-and-economy/economy/arti...

    CCEA okays Reckitt bid to invest Rs 3,300 cr for Paras buy


    PTI

    New Delhi, March 29: The Cabinet Committee on Economic Affairs (CCEA) on Tuesday approved FMCG giant Reckitt Benckisers plan to invest around Rs 3,300 crore via a subsidiary to fund its acquisition of Paras Pharmaceuticals Ltd. A meeting of the CCEA held here cleared the proposal of Reckitt Benckiser Plc to set up a new, wholly owned subsidiary investing company with a foreign equity of 100 per cent to make a downstream investment to fully acquire Paras Pharma. The approval is expected to result in foreign direct investment (FDI) amounting to Rs 3,300 crore approximately in the wholly-owned subsidiary of Reckitt Benckiser Plc UK, an official statement said In December last year, Reckitt Benckiser had agreed to fully acquire Ahmedabad-based Paras Pharmaceuticals Ltd for Rs 3,260 crore. The shares of the new subsidiary will be 100 per cent subscribed by Reckitt Benckiser (Singapore) (entire equity except 10 shares) and R&C Nominees Limited (10 shares), it added. Paras Pharma is a privately-owned firm with a portfolio of leading over-the-counter health and personal care brands including, Moov, DCold, Dermicool, Krack, Itch Guard and Ring Guard. It also has a personal care business led by Set Wet, a leading hair gel and deodorant brand. Reckitt Benckiser had acquired the firm as to expand its business in India. Keywords: CCEA, Reckitt Benckiser, Paras Pharmaceuticals Ads by Google www.flipkart.com/Mobiles Huge Selection at Amazing Prices. Latest Prices. Reviews & Comparison www.flipkart.com/Mobiles 10P Stock Recommendations RealTime Market Research/Analysis Easy Pick Potential Rs10-50 Stocks www.10paisa.com/subscribe_at_Rs2500 HDFC Fixed Deposits Highest HDFC Deposit Interest Rates Safe & Secure, Invest Now! www.HDFCIndia.com/Deposits

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    3/30/2011 1:36 AM

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