Fast-moving consumer good firms, Emami and Marico, set eyes on Ahmedabad-based firm – Paras Pharmaceuticals Ltd, which has over-the-counter and personal care brands such as Moov, Krack, D Cold, Set Wet among others. Emami, which manufactures personal care brands such as Fair and Handsome, Navratna Oil Boroplus and Sonachandi Chyawanprash, has been scouting for acquisitions in the personal care space after it acquired Zandu Pharmaceutical Works Ltd in November 2008. The firm is in talks to buy Paras Pharma for Rs40 billion, but the comapny officials have not confirmed the number. On the other hand, Marico Ltd is also gearing to bid for Paras Pharmaceuticals. “There is an interest from our side certainly. It’s just come out and we are looking at it and my assumption is that all FMCGs should be interested,” says Chaitanya Deshpande, Head of Strategy, Mergers-Acquisitions and Investor Relations, Marico Ltd.
Posted on: 15-9-2010
Source: www.economictimes.com
