Mumbai-based Jyothy Laboratories has acquired a 14.9% stake in Henkel India from Tamil Nadu Petro Products for Rs 60.73 crore in an all-cash deal.
Speaking to CNBC-TV18, K Ullas Kamath, deputy managing director of Jyothy Laboratories said Henkel's product portfolio fits well with the company's business segment. "We are looking forward to working closely with Henkel," he said.
The deal makes Jyothy the largest Indian shareholder in the Indian arm of Germany's Henkel AG. Kamath said the deal will be funded via internal accruals. "We are also open to raising funds via debt," he added. Below is a verbatim transcript of the interview. Also watch the video. Q: Why you choose to pick up just under 15% in this buy? Also, why did you choose to do it because some analysts don
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