Emami scouting domestic and overseas acquisitions
August 19th, 2010 - 5:19 pm ICT by IANSKolkata, Aug 19 (IANS) City-based Emami Group is planning to acquire a domestic company in the personal and healthcare segment with a market cap of around Rs.800-1,000 crore, a top group official said here Thursday.
“Within the country we are looking at companies having a portfolio of two-three brands,” Chairman R.S. Agarwal told reporters after the annual general meeting of the company.
The Rs.3,000-crore diversified group has engaged Ernst & Young to identify targets for it.
Emami is also looking for a suitable buy in the overseas market in personal care segment and is open to spend up to Rs.1,500 crore for such a buy.
“We are still looking at companies overseas specifically in markets like the Middle East, South Africa and the CIS region,” Agarwal said.
Emami’s products are exported to more than 60 countries.
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Tags: annual general meeting, cis region, diversified group, emami group, ernst young, healthcare segment, market cap, middle east, overseas acquisitions, personal care, r s agarwal, rs 1, rs 800, south africa, targets