Dabur to acquire ayurvedic product maker Sesa Care for Rs 315-325 cr
Dabur on Wednesday announced the acquisition of Sesa Care, engaged in the Ayurvedic personal care and wellness segment, at an enterprise value of Rs 315-325 crore. This new acquisition will help Dabur to expand in the Rs 900 crore ayurvedic hair oil market, the company said in a regulatory filing.
It has entered into an agreement to acquire the majority 51 per cent stake from its shareholder True North (a private equity fund) for Rs 12 crore at face value.
«The enterprise value is estimated to be in the range of Rs 315-325 crore, including debt of Rs 289 crore, which will be backed by the corporate guarantee of Dabur,» it added.
While the remaining 49 per cent shares in Sesa, there will be a share swap for the equity shares.
«The share swap for the equity shares and remaining 49 per cent CRPS in Sesa will be decided at the time of filing the scheme of merger, based on the valuation reports,» it said.
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