Financial Daily from THE HINDU group of publications
Saturday, Apr 02, 2005
Financial Daily from THE HINDU group of publications Saturday, Apr 02, 2005 |
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Corporate
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Mergers & Acquisitions Balsara Home, now Dabur India arm Our Bureau
New Delhi , April 1 THE board of Balsara Home Products Ltd on Friday approved transfer of shares from its erstwhile promoters, the Balsara family, to Dabur India Ltd. With this transfer, Balsara Home Products Ltd becomes a subsidiary of Dabur India Ltd, according to a company release. The company on Friday also inducted into its board Mr Sunil Duggal, CEO of Dabur India, Mr Mohit Burman, and Mr Charanjit Mohan, Executive Director, Dabur, the release said. The company had earlier inducted Mr P.D. Narang, Group Director (Corporate Affairs), Dabur India. These members will also be inducted into the board of two other Balsara companies acquired by Dabur, Besta Cosmetics and Balsara Hygiene, which will effectively bring management control of these entities to Dabur India. "The integration of Balsara goes as per schedule and would be completed soon. We expect the benefits of the Balsara acquisition to start flowing into the company from first quarter itself," said Mr P.D. Narang, Group Director, Dabur India Ltd. Dabur has also announced that the company's board of directors will meet in Delhi on April 28 to consider the finances for the fourth quarter.
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