Dabur is exiting the pharma business. The Burman family, promoters of FMCG major Dabur, has sold the oncology drug manufacturing company - Dabur Pharma - to European healthcare major Fresenius SE for about Rs 880 crore.
The Burmans, along with some key stakeholders, have agreed to sell their 73.27 per cent stake at a price of Rs 76.50 per share, a 10 per cent premium over the current market price. The deal values Dabur Pharma at Rs 1198.75 crore.
When contacted, Anand Burman, chairman of Dabur declined to comment on the deal. The acquisition will be routed through the European company
