Reckitt Benckiser will hold auction for its personal care products business in India, leading FMCG companies Wipro, Godrej, Dabru expected to offer bids around 1,000 crore rupees
August 23, 2011
– Wipro Ltd., Godrej Group, and Dabur India Ltd. are expected to place bids for Reckitt Benckiser’s newly acquired personal care products business, according to multiple sources following the developments, The Economic Times reported Aug. 22.
According to the sources, the leading FMCG companies have not yet received details of the auction process but are expected to place bids around 1,000 crore rupee (US$220M)
With its 3,000 crore rupee acquisition of Paras Pharma last year, Reckitt also received its personal care products segment, but has since been trying to get rid of the maker of Set Wet deodorant and Dermi Cool talcum powder.
Emami Ltd. has also expressed interest in the business, and if invited to join the auction it is expected to place an aggressive bid.
The primary source of this article is The Economic Times, Mumbai, India, on August 22, 2011.