Emami acquires 27.5 pc stake in Zandu Pharmaceuticals

Kolkata, May 31: FMCG major Emami Ltd (EL) has bought a substantial stake of 27.5 per cemt in the Zandu Pharmaceutical Works Ltd, an EL press release issued here today stated.

''Zandu has a tremendous business potential which can be exploited with strong marketing, R&D and other operating efficiencies, coupled with long term entrepreneurial vision,'' EL Director Harsha V Agarwal said. As per regulations, Emami would be making an open offer for acquiring further 20 per cent stake in the company, the release added.

''Emami, with its strong marketing acumen and operational efficiency, can help Zandu reap its true potential,'' Mr Agarwal added.

UNI