Wipro to acquire Unza Holdings Ltd

Wipro Ltd on July 06, 2007, has announced that it has signed definitive agreements to acquire 100% shareholding in Unza Holdings Ltd (Unza), a Singapore based Fast Moving Consumer Goods (FMCG) company for an all cash consideration of Rs 10102 Mn (approximately US $ 246 Mn). It recorded Revenues of Rs 6,833 Mn with double digit operating margin for fiscal year ending on April 30, 2007. This transaction catapults the combined entity into strong force across Asian markets. Transaction is expected to be closed by end July 07.

Unza is South East Asia’s largest independent manufacturer and marketer of personal care products bringing Asian focused brands to millions of Asian consumers. With operations in over 40 countries, Unza markets a wide portfolio of personal care brands, such as Enchanteur, Safi, Romano and Izzi - not to mention its two detergent brands, Vigor and Maxkleen.

Headquartered in Singapore, Unza has manufacturing plants in Malaysia, Vietnam, China and Indonesia. Last year Unza’s revenues grew 14% in US dollar terms, well ahead of market growth rates in the region.

The stock was trading at Rs.506.50, up by Rs.2.30 or 0.46%. The stock hit an intraday high of Rs.514 and low of Rs.505.50. The total traded quantity was 57162 compared to 2 week average of 213978.

Source : Equity Bulls

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