Marico South East Asia Corporation (MSEA), a wholly owned subsidiary of Marico, has entered into a definitive agreement to acquire 100% shares of Beauty X Joint Stock Company (Beauty X), an entity incorporated in Vietnam which owns the personal care brands Puritde Prence and iv. The said acquisition is subject to requisite regulatory approvals and satisfaction of various terms and conditions as specified in the definitive agreement.
Accordingly, upon completion of the acquisition as aforesaid, Beauty X will become a subsidiary of MSEA and consequently a subsidiary of Marico as well.
The cost of acquisition of is Vietnamese Dong (VND) 493 billion (Rs 172 crore, based on conversion rate as on 09 December 2022)
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