P&G to buy 52% stake in Merck India for Rs 1300 Cr
Procter & Gamble Company (P&G), a global consumer product manufacturing firm is all set to acquire a nearly 52% stake in drug firm Merck India for Rs 1,300 crore in a global deal taking over the international consumer health business of Germany’s Merck KGaA.
According to information that came in a public announcement on Thursday, Procter & Gamble Overseas India BV along with P&G will be making an obligatory offer to acquire 26% from public shareholders for up to Rs. 648 crore which will mark up the total cost of acquisition in India to Rs. 1,948 crore.
The procurement will allow P& G to expand its consumer healthcare business by incorporating a portfolio of physician-supported brands while complementing its owned brand like Metamucil, Pepto-Bismol, Crest and Oral-...