Homegrown FMCG major Dabur on Thursday said it has acquired the management control of Sharjah, UAE-based Excel Investments (FZE) and made it the firm's wholly-owned subsidiary.
Dabur International Ltd, a wholly-owned subsidiary of Dabur India, has acquired the management control of FZE, the company said in a regulatory filing.
"Acquisition of FZE will help the group in holding and consolidating the investments in step-down subsidiaries operating in the West Asia Region," according to the company.
It also added that FZE "had acquired 99.99 per cent shareholding stake of Dabur Pakistan and Asian Consumer Care Pakistan (Private) Ltd".
Both Dabur Pakistan and Asian Consumer Care Pakistan are step down subsidiaries of Dabur India.
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