Emami enters into an agreement with Zandu

Kolkata, Oct 16 (UNI) FMCG major Emami Ltd today announced that it had entered into a share purchase agreement with Zandu promoter group for buying additional 18.18 per cent shares in the company.

An Emami spokesman said with the purchase of additional shares, Emami would be the largest shareholder of Zandu, owned by the Parikh family.

The transaction paved way for Emami's acquisition of Zandu.

The consideration received by the Parikh family would be Rs 15,000 per share and a non-compete fee of Rs 22 crore.

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