Dabur India Ltd said its subsidiary Dabur International Ltd signed an agreement to acquire 100% stake in a Turkey-based Hopi Group for $69 million.
Hobi Group is a personal care company and includes Hobi Kozmetik, Zeki Plastik and Ra Pazarlama. The transaction is expected to complete by third quarter of the financial year 2010-11, Dabur said in a regulatory filing.
On Monday, Dabur India shares ended 3.7% down at Rs203 on the Bombay Stock Exchange, while the Sensex closed 0.6% lower at 18,020 points.
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