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Emami Overseas FZE (based in the UAE), a wholly owned subsidiary of Emami Ltd , has acquired controlling stake of 66.6 per cent in Fravin Pty Ltd (Fravin), Australia. Fravin has major strength in R&D and manufacture of natural and organic personal care products in Australia. Following the acquisition, Fravin Pty Ltd alongwith its three subsidiary companies have become subsidiaries of Emami. The company did not specify financial details of the deal. Shares of Emami surged 3.3 per cent at ₹888.10 on the NSE.
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