Henkel likely to invest in Jyothy Labs – Feedback

German consumer goods major Henkel AG might invest in Jyothy Laboratories, the maker of the Ujala brand of fabric care and detergent products, this year.

Ullas Kamath, joint managing director and chief financial officer of Jyothy, said all “indications were positive” that Henkel would put in a bid, though nothing had been finalised. “The option is open for them to come and talk to us. We were waiting for the board meeting (on May 23) to get over. That has happened. They can talk to us now. The option for them to invest in the company will close in March 2017,” said Kamath. Speculation about the German major’s interest in the city-based fast-moving consumer goods maker has been growing in the past few months. For the record, Henkel had the option to pick up to 26 per cent stake in Jyothy five years after the latter acquired its Indian subsidiary in May 2011.

http://www.business-standard.com/article/companies/henkel-likely-to-invest-in-jyothy-labs-116060101329_1.html

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