Financial Daily from THE HINDU group of publications
Thursday, Mar 27, 2003
Financial Daily from THE HINDU group of publications Thursday, Mar 27, 2003 |
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Marketing
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Brands `Nirma plan to buy brands a positive move' Our Bureau
MUMBAI, March 25 NIRMA Ltd's plan to acquire brands Nirma and Nima from the promoter held company is seen as a positive move notwithstanding the costs involved in the transaction, analysts said. They said that the company acquiring and owning key brands augurs well for its future financial performance, though at the current point it may have to incur some cash outflow. Last week, Nirma Ltd had announced this decision also stating that it will issue six per cent redeemable preference shares of a total value of Rs 2.8 crore to the shareholders of Nirma Industries Ltd, the promoter company. The company said that Deloitte Haskins and Sells have valued the brands and trademarks in the range of Rs 1,400-Rs 1,600 crore. In 1999, Marico Industries Ltd had also acquired key brands Parachute and Saffola from Bombay Oils Industries for a consideration of Rs 30 crore. The valuation of these brands were also carried out by Deloitte Haskins & Sells and merchant bankers IL&FS.
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