P&G Overseas to acquire 3.35% stake in P&G Hygienebusiness Updated: Mar 24, 2017 18:14 IST
P&G Hygiene and Healthcare today said P&G Overseas India will acquire 3.35% stake in the company for Rs 763 crore from Rosemount LLC, a parent group firm.
Procter and Gamble Overseas India BV (PGOI BV), a wholly- owned subsidiary of Procter and Gamble Company, USA, will buy 10.88 lakh equity shares of P&G.
PGOI BV will acquire stake on April 1 for Rs 7,016 per share, P&G said in a BSE filing. At that price, the transaction will be worth Rs 763.43 crore.
Shares of Procter and Gamble Hygiene and Health Care (PGHH) closed 0.13 per cent higher at Rs 6,952.15 per piece on BSE.